Pilgrim’s Pride Corp (NASDAQ: PPC) has reported earnings for its first fiscal quarter (ending March 31) of $0.74 versus $0.02 for the same period a year ago — an increase of 3600%. This result exceeded the consensus estimate of $0.62 by $0.12. For the latest four quarters through March 31, E.P.S. were $2.08 versus $1.95 for the same period a year ago — an increase of 7%.
Recent Price Action
On 5/1/24, Pilgrim’s Pride Corp (NASDAQ: PPC) stock declined modestly by -1.7%, closing at $35.39. Trading volume in this decline was normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -0.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PPC is expected to continue to be a major Value Builder.
Pilgrim’s Pride has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Pilgrim’s Pride has a neutral Appreciation Score of 52 but a very high Power Rating of 99, with the Highest Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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