Fresh Del Monte Produce (NYSE:FDP) Issues Quarterly Earnings Results

Fresh Del Monte Produce (NYSE:FDP) posted its earnings results on Monday. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16), Zacks reports. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $0.25 earnings per share. The business’s revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Stock Performance

NYSE:FDP opened at $29.98 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $31.63 and a two-hundred day moving average price of $30.97. Fresh Del Monte Produce has a twelve month low of $21.23 and a twelve month high of $35.27. The company has a market capitalization of $1.44 billion, a P/E ratio of 90.85 and a beta of 0.39.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.30 per share. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 4.00%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 303.03%.

Fresh Del Monte Produce declared that its board has authorized a stock buyback plan on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 10.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.