Del Monte Fresh Stock Climbs For 3 Weeks After Weak Earnings


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Fri. March 14th, 2014 - by Jonathan Nivens

<p>Over the past three weeks, there's been a significant rally in the share price of Fresh Del Monte Produce Inc (NYSE:FDP).<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="https://www.google.com/finance?chdnp=1&amp;chdd=1&amp;chds=1&amp;chdv=1&amp;chvs=maximized&amp;chdeh=0&amp;chfdeh=0&amp;chdet=1394836870959&amp;chddm=6752&amp;chls=IntervalBasedLine&amp;q=NYSE:FDP&amp;ntsp=1&amp;ei=G4IjU5i_EuqsiAL0LA&amp;authuser=1" target="_new"> Click Here to View the Stock's Significant Rally </a><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Over the last three years, Del Monte has remained relatively flat when compared with the S&amp;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.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.freshdelmonte.com/" target="_new"> Fresh Del Monte Produce</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">