Fresh Del Monte Produce (NYSE:FDP) Posts Earnings Results, Beats Expectations By $0.23 EPS

Fresh Del Monte Produce (NYSE:FDP) announced its quarterly earnings results on Wednesday. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.23, MarketWatch Earnings reports. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Fresh Del Monte Produce had a return on equity of 2.16% and a net margin of 0.54%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS.

Shares of FDP traded down $0.70 during trading hours on Friday, hitting $22.58. 294,775 shares of the company were exchanged, compared to its average volume of 152,010. The company has a market cap of $1.10 billion, a PE ratio of 29.85 and a beta of 0.70. The firm’s 50 day moving average is $23.60 and its 200-day moving average is $27.93. Fresh Del Monte Produce has a 52 week low of $20.25 and a 52 week high of $38.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 1.82.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%.

Separately, ValuEngine upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Thursday.

In related news, CEO Mohammad Abu-Ghazaleh sold 33,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $21.78, for a total transaction of $718,740.00. Following the completion of the transaction, the chief executive officer now owns 5,346,436 shares of the company’s stock, valued at approximately $116,445,376.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 151,118 shares of company stock valued at $3,507,622. 35.60% of the stock is currently owned by corporate insiders.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.

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Earnings History for Fresh Del Monte Produce (NYSE:FDP)

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