Brokers Offer Predictions for Pilgrim’s Pride Corporation’s FY2017 Earnings (NASDAQ:PPC)

Pilgrim’s Pride Corporation (NASDAQ:PPC) – Jefferies Group raised their FY2017 earnings per share estimates for Pilgrim’s Pride in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst A. Jagdale now anticipates that the company will post earnings per share of $2.86 for the year, up from their prior estimate of $2.53. Jefferies Group currently has a “Hold” rating and a $32.00 target price on the stock. Jefferies Group also issued estimates for Pilgrim’s Pride’s Q4 2017 earnings at $0.57 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $0.98 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.97 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $0.99 EPS, FY2019 earnings at $3.01 EPS, FY2020 earnings at $3.23 EPS and FY2021 earnings at $3.47 EPS.

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

A number of other equities analysts have also commented on the company. ValuEngine raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Vertical Group lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. They noted that the move was a valuation call. Morgan Stanley started coverage on Pilgrim’s Pride in a research note on Friday, November 3rd. They issued an “equal weight” rating and a $30.00 price objective on the stock. BMO Capital Markets boosted their price objective on Pilgrim’s Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Finally, Vertical Research lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.50.

Shares of Pilgrim’s Pride (NASDAQ PPC) traded up $0.27 during trading hours on Friday, reaching $37.55. The company’s stock had a trading volume of 1,852,993 shares, compared to its average volume of 1,263,290. Pilgrim’s Pride has a 52-week low of $17.77 and a 52-week high of $38.39. The company has a market capitalization of $9,273.49, a PE ratio of 14.45 and a beta of 0.29. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49.

Several institutional investors and hedge funds have recently modified their holdings of PPC. New York State Teachers Retirement System acquired a new position in Pilgrim’s Pride in the third quarter valued at about $134,000. Seven Eight Capital LP acquired a new position in Pilgrim’s Pride in the second quarter valued at about $134,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Pilgrim’s Pride by 57.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after buying an additional 2,139 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Pilgrim’s Pride by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after buying an additional 798 shares during the period. Finally, Amalgamated Bank acquired a new position in Pilgrim’s Pride in the second quarter valued at about $219,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This report was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/12/04/jefferies-group-brokers-raise-earnings-estimates-for-pilgrims-pride-corporation-ppc.html.

Pilgrim’s Pride Company Profile

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.

Get a free copy of the Zacks research report on Pilgrim’s Pride (PPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Pilgrim's Pride Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply