A History of Outperforming Analyst Forecasts and Beating the Odds: Dole plc (DOLE)

Dole plc (NYSE: DOLE) stock jumped 1.07% on Wednesday to $13.18 against a previous-day closing price of $13.04. With 0.75 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.44 million shares. During the session, the Farm Products company that operates in wider Consumer Defensive sector, reached to the highest price of $13.28 whereas the lowest price it dropped to was $12.94. The 52-week range on DOLE shows that it touched its highest point at $13.29 and its lowest point at $7.20 during that stretch. It currently has a 1-year price target of $15.14. With its current market cap of 1.23 billion, DOLE has annualized dividend of $0.32 while the current yield stands at 2.43%.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DOLE was up-trending over the past week, with a rise of 10.48%, but this was up by 7.59% over a month. Three-month performance surged to 11.51% while six-month performance rose 28.21%. The stock gained 18.31% in the past year, while it has gained 36.58% so far this year. A look at the trailing 12-month EPS for DOLE yields 0.91 with Next year EPS estimates of 1.08. For the next quarter, that number is 0.34. This implies an EPS growth rate of -14.40% for this year and 23.44% for next year.

Float and Shares Shorts:

At present, 94.90 million DOLE shares are outstanding with a float of 64.32 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.07 million, which was 2.18% higher than short shares on Mar 30, 2023. In addition to Mr. Carl Patrick McCann BBS, FCA, MA as the firm’s Exec. Chairman, Mr. Rory Patrick Byrne BComm, FCA serves as its CEO & Exec. Director.

Institutional Ownership:

Through their ownership of 42.59% of DOLE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 21.61% of DOLE, in contrast to 13.15% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in DOLE with 5.42% of the stake, BDL Capital Management SAS holds 5,142,595 shares worth 5,142,595. A second-largest stockholder of DOLE, Rubric Capital Management LP, holds 4,743,276 shares, controlling over 5.00% of the firm’s shares. Impax Asset Management Ltd. is the third largest shareholder in DOLE, holding 4,376,702 shares or 4.61% stake. With a 4.33% stake in DOLE, the BNP Paribas Funds – SMaRT Food is the largest stakeholder. A total of 4,108,608 shares are owned by the mutual fund manager. The JNL/Franklin Templeton Internatio, which owns about 0.95% of DOLE stock, is the second-largest Mutual Fund holder. It holds 898,642 shares valued at 11.07 million. Fidelity Low Priced Stock Fund holds 0.84% of the stake in DOLE, owning 799,723 shares worth 9.85 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, DOLE reported revenue of $2.36B and operating income of $46.35M. The EBITDA in the recently reported quarter was $86.31M and diluted EPS was $0.43.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DOLE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DOLE analysts setting a high price target of $18.00 and a low target of $9.00, the average target price over the next 12 months is $14.69. Based on these targets, DOLE could surge 36.57% to reach the target high and fall by -31.71% to reach the target low. Reaching the average price target will result in a growth of 11.46% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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