Zacks: Analysts Anticipate Pilgrim's Pride Co. (PPC) Will Announce Quarterly Sales of $2.57 Billion

Equities research analysts predict that Pilgrim's Pride Co. (NASDAQ:PPC) will post sales of $2.57 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pilgrim's Pride’s earnings. The lowest sales estimate is $2.57 billion and the highest is $2.58 billion. Pilgrim's Pride posted sales of $1.91 billion during the same quarter last year, which would indicate a positive year over year growth rate of 34.6%. The firm is expected to report its next quarterly earnings report on Wednesday, February 14th.

On average, analysts expect that Pilgrim's Pride will report full year sales of $2.57 billion for the current fiscal year, with estimates ranging from $9.16 billion to $9.64 billion. For the next year, analysts forecast that the business will report sales of $10.71 billion per share, with estimates ranging from $10.62 billion to $10.79 billion. Zacks’ sales averages are an average based on a survey of analysts that follow 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, beating analysts’ consensus estimates 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. Pilgrim's Pride’s revenue for the quarter was up 12.0% compared to the same quarter last year.

A number of brokerages have recently weighed in on PPC. BidaskClub downgraded Pilgrim's Pride from a “sell” rating to a “strong sell” rating in a report on Tuesday. KeyCorp started coverage on Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating for the company. Zacks Investment Research cut Pilgrim's Pride from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group reissued a “hold” rating and set a $27.00 price objective (up previously from $25.00) on shares of Pilgrim's Pride in a research report on Friday, October 6th. Finally, Morgan Stanley lifted their price objective on Pilgrim's Pride from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Pilgrim's Pride currently has an average rating of “Hold” and a consensus price target of $32.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Pilgrim's Pride by 14.6% during the third quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock valued at $117,970,000 after purchasing an additional 528,588 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pilgrim's Pride by 4.3% in the third quarter. Dimensional Fund Advisors LP now owns 934,475 shares of the company’s stock worth $26,548,000 after buying an additional 38,754 shares during the last quarter. State Street Corp lifted its position in shares of Pilgrim's Pride by 9.7% in the second quarter. State Street Corp now owns 793,321 shares of the company’s stock worth $17,385,000 after buying an additional 70,198 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of Pilgrim's Pride by 595.5% in the second quarter. Balyasny Asset Management LLC now owns 789,357 shares of the company’s stock worth $17,303,000 after buying an additional 675,862 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Pilgrim's Pride by 58.9% in the third quarter. Ameriprise Financial Inc. now owns 789,349 shares of the company’s stock worth $22,427,000 after buying an additional 292,700 shares during the last quarter. 24.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Pilgrim's Pride (NASDAQ:PPC) traded up $1.23 during mid-day trading on Friday, hitting $30.72. The stock had a trading volume of 1,069,573 shares, compared to its average volume of 1,045,094. Pilgrim's Pride has a twelve month low of $18.10 and a twelve month high of $38.39. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $7,335.71, a P/E ratio of 12.14 and a beta of 0.29.

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

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