Pilgrim’s Pride (PPC) Announces Quarterly Earnings Results

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Pilgrim’s Pride (NASDAQ:PPC) released its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35, Bloomberg Earnings reports. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Pilgrim’s Pride had a net margin of 2.27% and a return on equity of 16.52%. Pilgrim’s Pride’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS.

NASDAQ PPC traded up $0.52 during mid-day trading on Friday, reaching $27.92. 14,151 shares of the stock were exchanged, compared to its average volume of 1,016,461. Pilgrim’s Pride has a 1 year low of $14.83 and a 1 year high of $28.05. The company has a market capitalization of $6.83 billion, a PE ratio of 21.89 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 1.72.

Several analysts have recently commented on the stock. BidaskClub raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Friday, April 19th. ValuEngine raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Zacks Investment Research raised shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Stephens assumed coverage on shares of Pilgrim’s Pride in a report on Monday, March 4th. They issued an “overweight” rating and a $19.75 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Pilgrim’s Pride in a report on Sunday, February 17th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pilgrim’s Pride presently has a consensus rating of “Buy” and a consensus target price of $22.63.

In related news, CEO William W. Lovette sold 86,425 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $20.30, for a total transaction of $1,754,427.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 78.73% of the company’s stock.

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Pilgrim’s Pride Company Profile

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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Earnings History for Pilgrim`s Pride (NASDAQ:PPC)

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