Brokerages Expect Mission Produce, Inc. (NASDAQ:AVO) to Announce $0.30 Earnings Per Share

Wall Street analysts forecast that Mission Produce, Inc. (NASDAQ:AVO) will announce $0.30 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Mission Produce’s earnings, with estimates ranging from $0.29 to $0.32. Mission Produce reported earnings per share of $0.34 during the same quarter last year, which indicates a negative year-over-year growth rate of 11.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Mission Produce will report full year earnings of $0.80 per share for the current financial year, with EPS estimates ranging from $0.79 to $0.81. For the next fiscal year, analysts anticipate that the business will post earnings of $0.93 per share, with EPS estimates ranging from $0.85 to $1.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Mission Produce.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings results on Sunday, September 12th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Mission Produce had a return on equity of 11.12% and a net margin of 5.43%. The business had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $250.04 million.

Separately, Zacks Investment Research lowered Mission Produce from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $20.14.

Mission Produce stock traded up $0.03 on Friday, hitting $18.98. 5,851 shares of the stock traded hands, compared to its average volume of 242,015. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.34 billion and a P/E ratio of 24.18. The business’s fifty day simple moving average is $19.48 and its 200 day simple moving average is $19.94. Mission Produce has a 1 year low of $12.43 and a 1 year high of $22.93.

In related news, Director Luis A. Gonzalez sold 43,820 shares of the business’s stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $18.27, for a total transaction of $800,591.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Juan R. Wiesner sold 6,929 shares of the company’s stock in a transaction dated Wednesday, October 6th. The stock was sold at an average price of $18.40, for a total value of $127,493.60. The disclosure for this sale can be found here. Insiders have sold a total of 54,664 shares of company stock worth $1,004,271 in the last three months. Corporate insiders own 47.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVO. New York State Common Retirement Fund lifted its stake in shares of Mission Produce by 77.1% during the 1st quarter. New York State Common Retirement Fund now owns 6,200 shares of the company’s stock worth $118,000 after purchasing an additional 2,700 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Mission Produce by 13.9% in the 1st quarter. CIBC Private Wealth Group LLC now owns 50,099 shares of the company’s stock worth $952,000 after buying an additional 6,099 shares during the period. JPMorgan Chase & Co. raised its position in shares of Mission Produce by 2.5% in the 1st quarter. JPMorgan Chase & Co. now owns 21,407 shares of the company’s stock worth $407,000 after buying an additional 529 shares during the period. Prudential Financial Inc. purchased a new position in shares of Mission Produce in the 1st quarter worth $2,741,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Mission Produce in the 1st quarter worth $4,827,000. Institutional investors and hedge funds own 18.25% of the company’s stock.

About Mission Produce

Mission Produce, Inc engages in sourcing, producing, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It serves retail, wholesale, and foodservice customers. The company was founded in 1983 and is headquartered in Oxnard, California.

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