$1.17 Earnings Per Share Expected for Pilgrim’s Pride Co. (NASDAQ:PPC) This Quarter

Posted by on May 26th, 2022

Wall Street analysts predict that Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) will post $1.17 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride posted earnings per share of $0.63 in the same quarter last year, which would indicate a positive year-over-year growth rate of 85.7%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Pilgrim’s Pride will report full-year earnings of $3.26 per share for the current year, with EPS estimates ranging from $2.85 to $3.66. For the next financial year, analysts expect that the business will post earnings of $3.14 per share, with EPS estimates ranging from $2.98 to $3.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.53. Pilgrim’s Pride had a net margin of 1.34% and a return on equity of 28.00%. During the same period last year, the business earned $0.42 EPS.

PPC has been the topic of several research analyst reports. StockNews.com upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 3rd. TheStreet upgraded shares of Pilgrim’s Pride from a “c” rating to a “b-” rating in a research note on Wednesday, April 27th. Bank of America started coverage on shares of Pilgrim’s Pride in a research note on Monday, February 28th. They set a “neutral” rating on the stock. Barclays started coverage on shares of Pilgrim’s Pride in a research note on Monday, March 14th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Stephens upgraded shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $35.00 in a research note on Friday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Buy” and a consensus price target of $31.25.

Shares of Pilgrim’s Pride stock opened at $32.21 on Thursday. The company’s fifty day simple moving average is $27.16 and its 200-day simple moving average is $27.15. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 0.61 and a beta of 0.96. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 1.21. Pilgrim’s Pride has a 1 year low of $20.23 and a 1 year high of $32.26.

In related news, CEO Fabio Sandri sold 171,000 shares of Pilgrim’s Pride stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $28.39, for a total value of $4,854,690.00. Following the completion of the transaction, the chief executive officer now directly owns 371,557 shares of the company’s stock, valued at $10,548,503.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 80.54% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in PPC. Bank of America Corp DE increased its stake in shares of Pilgrim’s Pride by 14.5% in the 4th quarter. Bank of America Corp DE now owns 814,701 shares of the company’s stock valued at $22,975,000 after acquiring an additional 102,872 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Pilgrim’s Pride by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 121,331 shares of the company’s stock valued at $3,422,000 after acquiring an additional 2,850 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Pilgrim’s Pride in the 4th quarter valued at about $1,410,000. State of Alaska Department of Revenue increased its stake in shares of Pilgrim’s Pride by 181.8% in the 4th quarter. State of Alaska Department of Revenue now owns 21,586 shares of the company’s stock valued at $608,000 after acquiring an additional 13,926 shares during the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at about $230,000. 17.97% of the stock is owned by hedge funds and other institutional investors.

About Pilgrim’s Pride (Get Rating)

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.

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