Pilgrim's Pride Co. (NASDAQ:PPC) – Jefferies Group decreased their Q2 2018 earnings estimates for shares of Pilgrim's Pride in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst A. Jagdale now forecasts that the company will post earnings of $0.88 per share for the quarter, down from their prior forecast 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.
A number of other research firms have also weighed in on PPC. BidaskClub lowered shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Morgan Stanley raised their price objective on shares of Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. BMO Capital Markets raised their price objective on shares of Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, November 9th. ValuEngine lowered shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, KeyCorp started coverage on shares of Pilgrim's Pride in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Pilgrim's Pride presently has a consensus rating of “Hold” and an average price target of $32.50.
Pilgrim's Pride (NASDAQ PPC) traded up $0.43 during trading on Thursday, hitting $30.67. 583,175 shares of the stock were exchanged, compared to its average volume of 1,200,000. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $7,630.00, a price-to-earnings ratio of 12.12 and a beta of 0.29. Pilgrim's Pride has a one year low of $18.10 and a one year high of $38.39.
Pilgrim's Pride (NASDAQ:PPC) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share.
Several hedge funds have recently added to or reduced their stakes in PPC. State of Alaska Department of Revenue purchased a new position in shares of Pilgrim's Pride during the fourth quarter valued at approximately $120,000. Seven Eight Capital LP purchased a new position in shares of Pilgrim's Pride during the second quarter valued at approximately $134,000. New York State Teachers Retirement System purchased a new position in shares of Pilgrim's Pride during the third quarter valued at approximately $134,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Pilgrim's Pride by 57.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after purchasing an additional 2,139 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Pilgrim's Pride by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after purchasing an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 24.69% 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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