Jefferies Group Weighs in on Pilgrim's Pride Co.’s Q2 2018 Earnings (PPC)

Pilgrim's Pride Co. (NASDAQ:PPC) – Stock analysts at Jefferies Group lowered their Q2 2018 earnings estimates for shares of Pilgrim's Pride in a report issued on Tuesday. Jefferies Group analyst A. Jagdale now anticipates that the company will post earnings of $0.88 per share for the quarter, down from their previous forecast of $0.97. Jefferies Group currently has a “Hold” rating and a $32.00 target price 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 released its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a net margin of 7.03% and a return on equity of 53.62%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year.

Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. BidaskClub downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Morgan Stanley increased their price objective on shares of 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. Zacks Investment Research downgraded shares of Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp initiated coverage on shares of Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.50.

Shares of Pilgrim's Pride (PPC) traded up $0.17 during midday trading on Thursday, reaching $29.64. 331,056 shares of the company traded hands, compared to its average volume of 1,489,560. Pilgrim's Pride has a fifty-two week low of $18.10 and a fifty-two week high of $38.39. The firm has a market capitalization of $7,330.00, a price-to-earnings ratio of 11.72 and a beta of 0.29. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81.

A number of institutional investors have recently modified their holdings of PPC. Russell Investments Group Ltd. raised its stake in Pilgrim's Pride by 398.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 79,006 shares of the company’s stock worth $1,733,000 after purchasing an additional 63,163 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Pilgrim's Pride by 15.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 381,877 shares of the company’s stock valued at $8,371,000 after buying an additional 52,011 shares during the period. Bank of New York Mellon Corp increased its holdings in Pilgrim's Pride by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,486 shares of the company’s stock valued at $13,141,000 after buying an additional 30,029 shares during the period. Legal & General Group Plc increased its holdings in Pilgrim's Pride by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after buying an additional 347 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Pilgrim's Pride by 12.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,718 shares of the company’s stock valued at $476,000 after buying an additional 2,415 shares during the period. Institutional investors and hedge funds own 24.62% of the company’s stock.

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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.

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

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