Fresh Del Monte Produce (NYSE:FDP) Posts Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Fresh Del Monte Produce (NYSE:FDP) posted its earnings results on Thursday. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26), Briefing.com reports. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.15 billion. Fresh Del Monte Produce had a positive return on equity of 4.55% and a negative net margin of 0.56%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS.

Fresh Del Monte Produce Stock Down 5.8 %

Fresh Del Monte Produce stock traded down $1.51 during midday trading on Friday, hitting $24.52. 334,384 shares of the stock were exchanged, compared to its average volume of 157,558. Fresh Del Monte Produce has a 52-week low of $21.41 and a 52-week high of $28.55. The company has a quick ratio of 1.01, a current ratio of 2.12 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $25.08 and its 200-day moving average price is $24.80. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -48.08 and a beta of 0.54.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Wednesday, May 15th. Fresh Del Monte Produce’s payout ratio is currently -196.07%.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered Fresh Del Monte Produce from a “b-” rating to a “c” rating in a report on Monday, February 26th.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Ghazaleh Amir Abu purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the acquisition, the director now owns 3,264,308 shares of the company’s stock, valued at approximately $77,102,954.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Monica Vicente sold 1,083 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ghazaleh Amir Abu purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the acquisition, the director now directly owns 3,264,308 shares in the company, valued at approximately $77,102,954.96. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 10,569 shares of company stock worth $258,509. Insiders own 29.70% of the company’s stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.