Analysts expect Pilgrim's Pride Co. (NASDAQ:PPC) to post sales of $2.57 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pilgrim's Pride’s earnings, with estimates ranging from $2.57 billion to $2.58 billion. Pilgrim's Pride reported sales of $1.91 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 34.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that Pilgrim's Pride will report full-year sales of $2.57 billion for the current year, with estimates ranging from $9.16 billion to $9.64 billion. For the next year, analysts expect that the business will post sales of $10.76 billion per share, with estimates ranging from $10.71 billion to $10.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Pilgrim's Pride.

Pilgrim's Pride (NASDAQ:PPC) last issued its quarterly 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis.

Several brokerages have issued reports on PPC. BidaskClub cut Pilgrim's Pride from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. KeyCorp assumed coverage on Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Jefferies Group reissued a “hold” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Pilgrim's Pride in a research report on Friday, October 6th. ValuEngine cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Morgan Stanley raised their price objective on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Pilgrim's Pride currently has a consensus rating of “Hold” and an average price target of $32.50.

A number of institutional investors and hedge funds have recently modified their holdings of PPC. New York State Teachers Retirement System purchased a new position in shares of Pilgrim's Pride during the 3rd quarter valued at about $134,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Pilgrim's Pride by 57.1% in the 3rd 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 in the last quarter. Seven Eight Capital LP purchased a new position in shares of Pilgrim's Pride in the 2nd quarter valued at about $134,000. CIBC Asset Management Inc purchased a new position in shares of Pilgrim's Pride in the 3rd quarter valued at about $237,000. Finally, FCA Corp TX purchased a new position in shares of Pilgrim's Pride in the 3rd quarter valued at about $244,000. 24.62% of the stock is owned by institutional investors.

Pilgrim's Pride (NASDAQ:PPC) traded down $0.88 on Wednesday, reaching $30.18. The company’s stock had a trading volume of 2,427,000 shares, compared to its average volume of 1,596,050. The stock has a market cap of $7,726.25, a P/E ratio of 11.93 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. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81.

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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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