Pilgrim's Pride Co. (NASDAQ:PPC) – Research analysts at Jefferies Group decreased their Q2 2018 earnings estimates for Pilgrim's Pride in a note issued to investors on Tuesday. 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 estimate of $0.97. Jefferies Group has a “Hold” rating and a $32.00 price objective 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.

Pilgrim's Pride (NASDAQ:PPC) last issued its earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.21. The company had revenue of $2.79 billion during 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 firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS.

Several other analysts have also recently issued reports on PPC. KeyCorp began coverage on Pilgrim's Pride in a report on Tuesday, October 31st. They issued a “hold” rating for the company. BidaskClub cut Pilgrim's Pride from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. ValuEngine cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Morgan Stanley increased their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. Finally, BMO Capital Markets increased their price target on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, November 9th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Pilgrim's Pride has an average rating of “Hold” and an average target price of $32.50.

Shares of Pilgrim's Pride (PPC) traded down $0.47 during trading hours on Thursday, reaching $29.71. The company’s stock had a trading volume of 2,028,700 shares, compared to its average volume of 2,227,900. 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 cap of $7,400.00, a PE ratio of 11.74 and a beta of 0.29. Pilgrim's Pride has a 12 month low of $18.10 and a 12 month high of $38.39.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in shares of Pilgrim's Pride by 42.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,211 shares of the company’s stock worth $972,000 after purchasing an additional 10,183 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Pilgrim's Pride during the 3rd quarter worth $258,000. Algert Global LLC purchased a new position in shares of Pilgrim's Pride during the 3rd quarter worth $2,285,000. Sterling Capital Management LLC grew its holdings in shares of Pilgrim's Pride by 3.5% during the 3rd quarter. Sterling Capital Management LLC now owns 130,535 shares of the company’s stock worth $3,708,000 after purchasing an additional 4,400 shares during the period. Finally, Neuberger Berman Group LLC purchased a new position in shares of Pilgrim's Pride during the 3rd quarter worth $522,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

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Pilgrim's Pride Company Profile

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.

Earnings History and Estimates for Pilgrim's Pride (NASDAQ:PPC)

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