Fresh Del Monte Produce (FDP) Set to Announce Quarterly Earnings on Thursday

Fresh Del Monte Produce (NYSE:FDP) will release its earnings data after the market closes on Thursday, May 2nd. Parties interested in registering for the company’s conference call can do so using this link.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Monday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 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 for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS.

Fresh Del Monte Produce Stock Performance

Shares of NYSE:FDP traded down $0.01 during mid-day trading on Tuesday, reaching $25.70. 38,667 shares of the company traded hands, compared to its average volume of 215,661. The company’s 50 day moving average price is $24.96 and its 200-day moving average price is $24.80. The firm has a market cap of $1.22 billion, a PE ratio of -102.84 and a beta of 0.56. Fresh Del Monte Produce has a 52 week low of $21.41 and a 52 week high of $29.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.12 and a quick ratio of 1.01.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were paid a dividend of $0.25 per share. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.89%. Fresh Del Monte Produce’s payout ratio is -400.00%.

Insider Buying and Selling

In other news, Director Ghazaleh Amir Abu purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $23.62 per share, with a total value of $236,200.00. Following the purchase, the director now owns 3,264,308 shares in the company, valued at $77,102,954.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fresh Del Monte Produce news, Director Ghazaleh Amir Abu acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the acquisition, the director now directly owns 3,264,308 shares in the company, valued at $77,102,954.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jesus Rodriguez Calvo sold 2,402 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 10,569 shares of company stock worth $258,509 over the last three months. 36.96% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research 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.