NEW YORK (TheStreet) -- Pilgrim's Pride (PPC) - Get Report stock is gaining by 8.11% to $21.74 on heavy trading volume after the company announced better than expected earnings per share, but lower revenue for the 2015 second quarter on Wednesday after the market close.
The company posted earnings of 93 cents per share on revenue of $2.05 billion for the quarter ended June 28.
Analysts polled by Thomson Reuters were expecting earnings of 89 cents per share on revenue of $2.22 billion for the 2015 second quarter.
Pilgrim's Pride reported earnings of 73 cents per share on revenue of $2.19 billion for the quarter ended June 29, 2014.
Additionally, the company's board approved a $150 million share buyback plan for the next 12 months.
Greeley, Colo.-based Pilgrim's Pride is a prepared foods manufacturer and chicken processor with operations in the U.S. and Mexico.
Separately, TheStreet Ratings team rates PILGRIM'S PRIDE CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate PILGRIM'S PRIDE CORP (PPC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: PPC Ratings Report