Pilgrim’s Pride Co. (NASDAQ:PPC) – Jefferies Financial Group issued their Q1 2019 earnings estimates for shares of Pilgrim’s Pride in a research report issued on Monday, November 5th. Jefferies Financial Group analyst A. Jagdale expects that the company will earn $0.52 per share for the quarter. Jefferies Financial Group also issued estimates for Pilgrim’s Pride’s Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.14 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.64 EPS, Q3 2020 earnings at $0.30 EPS and FY2021 earnings at $2.01 EPS.
Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 31st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.34). The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.72 billion. Pilgrim’s Pride had a return on equity of 22.95% and a net margin of 3.53%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS.
Several other brokerages also recently commented on PPC. Barclays started coverage on shares of Pilgrim’s Pride in a report on Monday, July 16th. They set an “overweight” rating and a $27.00 target price for the company. BidaskClub raised shares of Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a report on Saturday, August 18th. BMO Capital Markets reduced their target price on shares of Pilgrim’s Pride to $20.00 and set a “market perform” rating for the company in a report on Friday, August 3rd. Mizuho set a $27.00 target price on shares of Pilgrim’s Pride and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.67.
Shares of PPC stock opened at $19.31 on Thursday. The stock has a market cap of $4.85 billion, a P/E ratio of 10.52 and a beta of 0.16. The company has a quick ratio of 0.83, a current ratio of 1.73 and a debt-to-equity ratio of 1.11. Pilgrim’s Pride has a 52 week low of $16.01 and a 52 week high of $38.39.
A number of hedge funds and other institutional investors have recently bought and sold shares of PPC. Advisors Preferred LLC boosted its holdings in Pilgrim’s Pride by 112.1% in the 2nd quarter. Advisors Preferred LLC now owns 8,571 shares of the company’s stock valued at $173,000 after purchasing an additional 4,530 shares during the period. SG Americas Securities LLC boosted its holdings in Pilgrim’s Pride by 129.2% in the 2nd quarter. SG Americas Securities LLC now owns 8,673 shares of the company’s stock valued at $175,000 after purchasing an additional 38,405 shares during the period. Parametrica Management Ltd bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $183,000. Janus Henderson Group PLC bought a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $262,000. Finally, Sun Life Financial INC bought a new stake in Pilgrim’s Pride in the 2nd quarter valued at about $267,000. 20.42% of the stock is owned by hedge funds and other institutional investors.
Pilgrim’s Pride announced that its board has initiated a share buyback plan on Wednesday, October 31st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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