Zacks: Analysts Expect Pilgrim's Pride Co. (PPC) Will Post Quarterly Sales of $2.57 Billion

Wall Street brokerages expect that Pilgrim's Pride Co. (NASDAQ:PPC) will announce sales of $2.57 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Pilgrim's Pride’s earnings, with estimates ranging from $2.57 billion to $2.58 billion. Pilgrim's Pride reported sales of $1.91 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 34.6%. The business is expected to announce its next earnings results on Wednesday, February 14th.

On average, analysts expect that Pilgrim's Pride will report full-year sales of $2.57 billion for the current financial year, with estimates ranging from $9.16 billion to $9.64 billion. For the next financial year, analysts forecast that the company will report sales of $10.76 billion per share, with estimates ranging from $10.71 billion to $10.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Pilgrim's Pride.

Pilgrim's Pride (NASDAQ:PPC) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.21. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Pilgrim's Pride had a net margin of 7.03% and a return on equity of 53.62%. Pilgrim's Pride’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS.

A number of brokerages have commented on PPC. ValuEngine downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday. BidaskClub downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. KeyCorp began coverage on shares of Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating for the company. Jefferies Group restated a “hold” rating and set a $27.00 price objective (up previously from $25.00) on shares of Pilgrim's Pride in a research report on Friday, October 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 price objective on shares of Pilgrim's Pride in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Pilgrim's Pride currently has a consensus rating of “Hold” and a consensus target price of $32.50.

Pilgrim's Pride (NASDAQ:PPC) opened at $32.14 on Friday. The company has a market cap of $7,994.92, a price-to-earnings ratio of 12.46 and a beta of 0.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65. Pilgrim's Pride has a 12-month low of $18.00 and a 12-month high of $38.39.

Several institutional investors and hedge funds have recently made changes to their positions in PPC. LSV Asset Management increased its holdings in shares of Pilgrim's Pride by 8.1% in the 2nd quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock valued at $223,492,000 after purchasing an additional 767,317 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Pilgrim's Pride by 595.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 789,357 shares of the company’s stock valued at $17,303,000 after purchasing an additional 675,862 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Pilgrim's Pride by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock valued at $117,970,000 after purchasing an additional 528,588 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Pilgrim's Pride by 2,806.0% in the 3rd quarter. Schroder Investment Management Group now owns 531,800 shares of the company’s stock valued at $15,109,000 after purchasing an additional 513,500 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Pilgrim's Pride by 151.0% in the 3rd quarter. Prudential Financial Inc. now owns 759,645 shares of the company’s stock valued at $21,582,000 after purchasing an additional 457,000 shares in the last quarter. Institutional investors and hedge funds own 24.62% of the company’s stock.

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About Pilgrim's Pride

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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Earnings History and Estimates for Pilgrim's Pride (NASDAQ:PPC)

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