Fresh Del Monte Produce (NYSE:FDP) Posts 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 the consensus estimate of $0.60 by ($0.26), Briefing.com reports. The business 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 0.56% and a positive return on equity of 4.55%. Fresh Del Monte Produce’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS.

Fresh Del Monte Produce Trading Down 5.8 %

NYSE FDP opened at $24.52 on Friday. The business’s fifty day moving average is $25.08 and its 200-day moving average is $24.80. 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 stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -48.08 and a beta of 0.54. Fresh Del Monte Produce has a one year low of $21.41 and a one year high of $28.55.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, May 15th. Fresh Del Monte Produce’s dividend payout ratio is presently -196.07%.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Jesus Rodriguez Calvo sold 2,402 shares of the firm’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 transaction of $59,065.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Monica Vicente sold 1,083 shares of the business’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 $26,371.05. Following the sale, the chief financial officer now directly owns 5,266 shares in the company, valued at approximately $128,227.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Rodriguez Calvo sold 2,402 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.59, for a total transaction of $59,065.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,569 shares of company stock worth $258,509. 29.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.