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

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

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded down $1.51 during mid-day trading on Friday, reaching $24.52. The stock had a trading volume of 334,384 shares, compared to its average volume of 157,558. The business’s 50 day moving average price is $25.08 and its 200 day moving average price is $24.80. Fresh Del Monte Produce has a 1 year low of $21.41 and a 1 year high of $28.55. The company has a market cap of $1.17 billion, a P/E ratio of -48.08 and a beta of 0.54. The company has a current ratio of 2.12, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21.

Fresh Del Monte Produce Dividend Announcement

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

Insider Buying and Selling at Fresh Del Monte Produce

In related news, SVP Jesus Rodriguez Calvo sold 2,402 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total value of $59,065.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the transaction, the chief financial officer now owns 5,266 shares in the company, valued at approximately $128,227.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jesus Rodriguez Calvo sold 2,402 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total value of $59,065.18. The disclosure for this sale can be found here. Insiders sold 10,569 shares of company stock worth $258,509 in the last quarter. 29.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.