We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's How Pilgrim's Pride (PPC) Looks Ahead of Q3 Earnings
Read MoreHide Full Article
Pilgrim’s Pride Corporation (PPC - Free Report) is likely to register a decline in the bottom line when it reports third-quarter 2020 results on Oct 29. Though the Zacks Consensus Estimate for third-quarter 2020 earnings has moved up 43.5% in the past 30 days to 33 cents per share, it suggests a 26.7% drop from the year-ago quarter’s reported figure. Further, the company has a trailing four-quarter negative earnings surprise of 31.5%, on average.
Pilgrim’s Pride is witnessing sluggish demand in foodservice channels amid the coronavirus pandemic. Moreover, the company has been witnessing weak macroeconomic conditions in Mexico, which is causing disruptions in consumer spending and lowering demand in the region. In fact, these factors put pressure on revenues in Mexico in the second quarter.
Nevertheless, Pilgrim’s Pride is benefiting from favorable feed input costs. In fact, management in its last earnings call stated that they are optimistic regarding the costs of corn and soybean in the United States. Also, the company is steadily augmenting marketing support of its brands and optimizing its supply chain. Moreover, Pilgrim’s Pride’s customer-centric approach bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Pilgrim’s Pride this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pilgrim’s Pride has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat.
The Hershey Company (HSY - Free Report) currently has an Earnings ESP of +1.63% and a Zacks Rank #3.
Medifast (MED - Free Report) currently has an Earnings ESP of +1.54% and a Zacks Rank of 3.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Here's How Pilgrim's Pride (PPC) Looks Ahead of Q3 Earnings
Pilgrim’s Pride Corporation (PPC - Free Report) is likely to register a decline in the bottom line when it reports third-quarter 2020 results on Oct 29. Though the Zacks Consensus Estimate for third-quarter 2020 earnings has moved up 43.5% in the past 30 days to 33 cents per share, it suggests a 26.7% drop from the year-ago quarter’s reported figure. Further, the company has a trailing four-quarter negative earnings surprise of 31.5%, on average.
Pilgrims Pride Corporation Price and EPS Surprise
Pilgrims Pride Corporation price-eps-surprise | Pilgrims Pride Corporation Quote
Factors to Note
Pilgrim’s Pride is witnessing sluggish demand in foodservice channels amid the coronavirus pandemic. Moreover, the company has been witnessing weak macroeconomic conditions in Mexico, which is causing disruptions in consumer spending and lowering demand in the region. In fact, these factors put pressure on revenues in Mexico in the second quarter.
Nevertheless, Pilgrim’s Pride is benefiting from favorable feed input costs. In fact, management in its last earnings call stated that they are optimistic regarding the costs of corn and soybean in the United States. Also, the company is steadily augmenting marketing support of its brands and optimizing its supply chain. Moreover, Pilgrim’s Pride’s customer-centric approach bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Pilgrim’s Pride this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Pilgrim’s Pride has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat.
Church & Dwight (CHD - Free Report) has an Earnings ESP of +1.80% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hershey Company (HSY - Free Report) currently has an Earnings ESP of +1.63% and a Zacks Rank #3.
Medifast (MED - Free Report) currently has an Earnings ESP of +1.54% and a Zacks Rank of 3.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>