Zacks: Brokerages Anticipate Mission Produce, Inc. (NASDAQ:AVO) Will Post Quarterly Sales of $218.57 Million

Wall Street brokerages predict that Mission Produce, Inc. (NASDAQ:AVOGet Rating) will announce $218.57 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Mission Produce’s earnings, with the lowest sales estimate coming in at $217.40 million and the highest estimate coming in at $219.73 million. Mission Produce posted sales of $234.70 million during the same quarter last year, which suggests a negative year over year growth rate of 6.9%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Mission Produce will report full-year sales of $951.96 million for the current fiscal year, with estimates ranging from $946.20 million to $957.71 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.05 billion, with estimates ranging from $1.02 billion to $1.07 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Mission Produce.

Mission Produce (NASDAQ:AVOGet Rating) last posted its earnings results on Thursday, March 10th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.23). Mission Produce had a return on equity of 6.38% and a net margin of 3.13%. The firm had revenue of $216.60 million for the quarter, compared to the consensus estimate of $243.24 million. During the same period in the prior year, the business earned $0.10 EPS. Mission Produce’s quarterly revenue was up 25.1% compared to the same quarter last year.

AVO has been the topic of a number of research reports. Citigroup raised shares of Mission Produce from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $20.00 to $18.00 in a report on Thursday, April 7th. Zacks Investment Research raised shares of Mission Produce from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th.

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Mission Produce by 8.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 98,996 shares of the company’s stock valued at $1,820,000 after purchasing an additional 8,005 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Mission Produce during the 4th quarter valued at $76,000. Allspring Global Investments Holdings LLC purchased a new position in Mission Produce in the fourth quarter worth $373,000. Citigroup Inc. grew its position in Mission Produce by 89.6% in the third quarter. Citigroup Inc. now owns 4,773 shares of the company’s stock worth $88,000 after acquiring an additional 2,256 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Mission Produce by 14.0% in the third quarter. American Century Companies Inc. now owns 24,362 shares of the company’s stock worth $448,000 after acquiring an additional 2,988 shares in the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

Mission Produce stock opened at $12.94 on Friday. Mission Produce has a 52 week low of $11.04 and a 52 week high of $22.93. The company’s 50 day moving average price is $12.65 and its two-hundred day moving average price is $14.78. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 0.30. The stock has a market cap of $913.98 million, a P/E ratio of 31.56, a P/E/G ratio of 2.64 and a beta of 0.39.

About Mission Produce (Get Rating)

Mission Produce, Inc engages in sourcing, producing, packaging, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It also provides value-added services, including ripening, bagging, custom packing, and logistical management.

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