Pilgrim’s Pride (NASDAQ:PPC) Announces Earnings Results

Pilgrim’s Pride (NASDAQ:PPC) posted its quarterly earnings results on Wednesday. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09, Briefing.com reports. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Pilgrim’s Pride had a net margin of 1.95% and a return on equity of 14.13%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share.

Shares of NASDAQ PPC traded up $2.24 during mid-day trading on Thursday, reaching $29.30. 1,976,573 shares of the company’s stock traded hands, compared to its average volume of 1,047,344. The company has a market capitalization of $6.78 billion, a PE ratio of 22.89 and a beta of 0.80. The business has a 50-day moving average of $26.38. Pilgrim’s Pride has a 1-year low of $14.83 and a 1-year high of $29.73. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.83 and a current ratio of 1.68.

A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Cleveland Research upgraded shares of Pilgrim’s Pride from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. TheStreet upgraded shares of Pilgrim’s Pride from a “c” rating to a “b-” rating in a report on Tuesday, May 28th. ValuEngine upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Pilgrim’s Pride presently has a consensus rating of “Buy” and an average price target of $23.25.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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