Zacks Downgrades Chiquita Brands International to Underperform (CQB)
Chiquita Brands International (NYSE:CQB) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday. They currently have a $9.70 price target on the stock. Zacks‘s target price points to a potential downside of 5.27% from the company’s current price.
Separately, analysts at BB&T Corp. cut their price target on shares of Chiquita Brands International from $15.00 to $14.00 in a research note on Monday, May 12th.
In other Chiquita Brands International news, CEO Edward Lonergan purchased 22,302 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average cost of $10.04 per share, with a total value of $223,912.08. Following the transaction, the chief executive officer now directly owns 258,151 shares in the company, valued at approximately $2,591,836. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Chiquita Brands International (NYSE:CQB) traded down 0.39% on Wednesday, hitting $10.20. The stock had a trading volume of 136,251 shares. Chiquita Brands International has a 52-week low of $9.24 and a 52-week high of $13.68. The stock has a 50-day moving average of $11.18 and a 200-day moving average of $11.21. The company’s market cap is $478.5 million.
Chiquita Brands International (NYSE:CQB) last announced its earnings results on Friday, May 9th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.67. The company had revenue of $762.00 million for the quarter, compared to the consensus estimate of $773.40 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Chiquita Brands International will post $0.41 earnings per share for the current fiscal year.
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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