Chiquita Brands International Stock Rating Lowered by Janney Montgomery Scott (CQB)
Chiquita Brands International (NYSE:CQB) was downgraded by Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Chiquita Brands International (NYSE:CQB) traded down 12.70% on Wednesday, hitting $11.00. 845,561 shares of the company’s stock traded hands. Chiquita Brands International has a 52-week low of $5.90 and a 52-week high of $13.68. The stock’s 50-day moving average is $12.87 and its 200-day moving average is $11.00. The company’s market cap is $511.8 million.
Chiquita Brands International (NYSE:CQB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.20. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $821.40 million. During the same quarter last year, the company posted $0.27 earnings per share. Chiquita Brands International’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Chiquita Brands International will post $0.55 EPS for the current fiscal year.
A number of other firms have also recently commented on CQB. Analysts at Zacks downgraded shares of Chiquita Brands International from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 10th. They now have a $14.70 price target on the stock.
Chiquita Brands International, Inc (NYSE:CQB), along with its subsidiaries, is an international marketer and distributor of bananas and other fresh produce, sold under the Chiquita and other brand names in 70 countries, and packaged salads sold under the Fresh Express and other brand names primarily in the United States.
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