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

Fresh Del Monte Produce (NYSE:FDP) announced its quarterly 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.15 billion. Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded down $1.51 on Friday, hitting $24.52. The stock had a trading volume of 333,835 shares, compared to its average volume of 217,679. Fresh Del Monte Produce has a twelve month low of $21.41 and a twelve month high of $28.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 2.12. The firm’s 50 day moving average price is $25.07 and its 200-day moving average price is $24.81. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -96.92 and a beta of 0.54.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. Fresh Del Monte Produce’s dividend payout ratio is presently -400.00%.

Analysts Set New Price Targets

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

Insider Activity

In related news, COO Mohammed Abbas sold 3,222 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $78,455.70. Following the completion of the transaction, the chief operating officer now directly owns 29,945 shares of the company’s stock, valued at $729,160.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Mohammed Abbas sold 3,222 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $78,455.70. Following the completion of the transaction, the chief operating officer now directly owns 29,945 shares of the company’s stock, valued at $729,160.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The shares were 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 directly owns 5,266 shares of the company’s stock, valued at $128,227.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,569 shares of company stock worth $258,509. Corporate insiders own 29.70% of the company’s stock.

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, 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.