Fresh Del Monte Produce Inc (FDP) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $1.75 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.38. Analysts had a consensus of $1.37. The company posted revenue of $1088.60 million in the period, compared to analysts expectations of $1164.10 million. The company’s revenue was down -4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS.
Many Wall Street Analysts have commented on Fresh Del Monte Produce Inc. Fresh Del Monte Produce Inc was Initiated by Sidoti to “Neutral” on May 12, 2016. Company shares were Reiterated by Wunderlich on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .
Fresh Del Monte Produce Inc opened for trading at $56.65 and hit $57.13 on the upside on Friday, eventually ending the session at $56.85, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 2,09,756 shares. Company has a market cap of $2,889 M.
In a different news, on Jun 3, 2016, Ghazaleh Amir Abu (director) sold 11,201 shares at $52.91 per share price. According to the SEC, on May 23, 2016, Michael J Berthelot (director) sold 6,250 shares at $49.65 per share price. On May 11, 2016, Mohammad Abu-ghazaleh (Chairman and CEO) sold 20,622 shares at $48.89 per share price, according to the Form-4 filing with the securities and exchange commission.
Fresh Del Monte Produce Inc. is an exempted holding company. Through its subsidiaries the Company is engaged in sourcing transportation and marketing fresh and fresh-cut fruit and vegetables together with prepared food products in Europe Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas other fresh produce and prepared food. Other fresh produce includes pineapples melons non-tropical fruit fresh-cut products other fruit and vegetables a third-party ocean freight business and a plastic product and box manufacturing business. Prepared food includes prepared fruit and vegetables juices beverages snacks poultry and meat products. It sources its fresh produced products from Central and South America Africa the Philippines North America and Europe. The Company sources its prepared food products from Africa Europe and the Middle East. It markets its products across the world under the DEL MONTE brand.