Pilgrim’s Pride (NASDAQ:PPC) Posts Earnings Results, Misses Estimates By $0.13 EPS
Pilgrim’s Pride (NASDAQ:PPC) posted its quarterly earnings data on Wednesday. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.13), Briefing.com reports. Pilgrim’s Pride had a net margin of 2.24% and a return on equity of 7.83%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis.
Shares of PPC traded up $0.27 during mid-day trading on Friday, hitting $15.55. 49,846 shares of the stock were exchanged, compared to its average volume of 1,024,126. The company has a market cap of $3.85 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Pilgrim’s Pride has a 52-week low of $14.87 and a 52-week high of $33.67. The firm has a 50-day moving average of $16.91 and a two-hundred day moving average of $20.81. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.99 and a current ratio of 1.89.
PPC has been the topic of a number of analyst reports. BidaskClub cut Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 6th. Goldman Sachs Group lowered their price target on Pilgrim’s Pride from $23.00 to $19.00 in a report on Thursday, June 4th. Zacks Investment Research cut Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a report on Thursday, July 9th. Stephens cut Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 3rd. Finally, BMO Capital Markets cut Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $36.00 to $21.00 in a report on Monday, June 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.38.
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
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