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

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) issued its quarterly earnings data 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 firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations 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 company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS.

Fresh Del Monte Produce Stock Performance

NYSE:FDP traded down $1.51 during midday trading on Friday, hitting $24.52. The company's stock had a trading volume of 333,835 shares, compared to its average volume of 217,679. Fresh Del Monte Produce has a fifty-two week low of $21.41 and a fifty-two week high of $28.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.12 and a quick ratio of 1.01. The firm has a market cap of $1.17 billion, a P/E ratio of -96.92 and a beta of 0.54. The firm's 50 day moving average is $25.07 and its 200-day moving average is $24.81.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 16th will be issued 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 dividend payout ratio (DPR) is -400.00%.

Analyst Ratings Changes

Separately, TheStreet lowered 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, Director Ghazaleh Amir Abu acquired 10,000 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the purchase, the director now owns 3,264,308 shares of the company's stock, valued at approximately $77,102,954.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Ghazaleh Amir Abu purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $23.62 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mohammed Abbas sold 3,222 shares of the company's 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 approximately $729,160.75. The disclosure for this sale can be found here. Insiders have sold 10,569 shares of company stock valued at $258,509 in the last ninety days. 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.

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