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.
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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.
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