Over the past three weeks, there's been a significant rally in the share price of Fresh Del Monte Produce Inc (NYSE:FDP).
After the closing bell last Friday, the stock price was $27.82 per share, up over 9% from its dip immediately following the earnings report. The current share price is now higher than it was before its latest earnings report.
Click Here to View the Stock's Significant Rally
On 2/18/2014, Fresh Del Monte Produce Inc reported weak earnings which did not meet analysts' expectations, with an average loss of $0.35 per share. Although revenue estimates were better than expected by a total of $88.9 million, news of the earnings report caused a drop in shares of Fresh Del Monte Produce from $26.75 down to $24.53.
With market capitalization around $1.56B, Fresh Del Monte is a leading global producer, marketer and distributor of fresh and fresh-cut fruit and vegetables. Combined with Chiquita and Dole, the three companies make up about two-thirds of the world's banana market share, according to Seeking Alpha.
Over the last three years, Del Monte has remained relatively flat when compared with the S&P 500 which has gone up nearly 40% over that same time. This year to date, Fresh Del Monte is down about 1.7%, but its rally may not yet be over.
Fresh Del Monte Produce
