Pilgrim's Pride Co. (NASDAQ:PPC) – Jefferies Group dropped their Q2 2018 earnings estimates for Pilgrim's Pride in a report released on Tuesday, Zacks Investment Research reports. Jefferies Group analyst A. Jagdale now expects that the company will earn $0.88 per share for the quarter, down from their previous estimate of $0.97. 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 Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $2.67 EPS, FY2019 earnings at $2.71 EPS and FY2020 earnings at $2.93 EPS.
Pilgrim's Pride (NASDAQ:PPC) last issued its earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the firm posted $0.40 EPS. The business’s revenue was up 12.0% compared to the same quarter last year.
Other research analysts have also issued research reports about the company. ValuEngine lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. BidaskClub lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Morgan Stanley increased their price objective on Pilgrim's Pride from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Zacks Investment Research lowered Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, KeyCorp started coverage on Pilgrim's Pride in a report on Tuesday, October 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.50.
Pilgrim's Pride (NASDAQ:PPC) opened at $29.69 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81. The firm has a market capitalization of $7,340.69, a PE ratio of 11.74 and a beta of 0.29. Pilgrim's Pride has a 52-week low of $18.10 and a 52-week high of $38.39.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its holdings in Pilgrim's Pride by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after buying an additional 347 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Pilgrim's Pride by 9.5% in the 2nd 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 last quarter. Voya Investment Management LLC grew its holdings in Pilgrim's Pride by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock valued at $434,000 after buying an additional 813 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Pilgrim's Pride by 0.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 383,553 shares of the company’s stock valued at $10,897,000 after buying an additional 1,676 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Pilgrim's Pride by 3.4% in the 3rd quarter. Macquarie Group Ltd. now owns 61,400 shares of the company’s stock valued at $1,745,000 after buying an additional 2,000 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.
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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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