Stock research on global mid-cap companies

Evaluate Research

Evaluate Research provides institutional quality stock research on small-cap and  mid-cap companies on a global basis, thus helping connect investors with the company.

At Evaluate Research, we provide free of cost to all investors a 20-25 page Initiation Report which evaluates in great detail all aspects of the company:  growth opportunities, catalysts, business description, competitive positioning, SWOT analysis, risks, etc.  In addition, we determine specific price targets for the company based on detailed 5-year complete forecasts of financial statements including IS, BS, CF, ratios, etc.  Finally, whereas many sell-side brokers offer sketchy and irregular ongoing maintenance research of companies, if not outright dropped or termination of coverage, at Evaluate Research we systematically monitor and regularly publish Update Notes covering quarterly earnings, major corporate events, etc.

All of the research reports are broadly and freely disseminated globally to leading Fund Managers and analysts who invest specifically in mid-size equities, and also on leading investment information platforms including: Bloomberg, Thomson Reuters, FactSet etc.

Stock research on global mid-cap companies, Evaluate Research

Equity Bottom-Up

Fresh Del Monte Produce / Equity Bottom-Up

FDP reported results for the fourth quarter and year ended December 2017. Revenue for the quarter came in at $953.7 mn vs. $954.6 mn in 4Q2016 while EPS was -$0.08 vs. +$0.26 in the corresponding period last year and our estimate of $0.22. The main reason for the fall in EPS was an increase in income tax which was an expense of $6.0 mn in 4Q2017 vs. a benefit of $13.6 mn in 4Q2016. In fact, the profit before tax for the quarter was higher in 4Q2017 at -$0.7 mn vs. -$3.1 mn in 4Q2016. Gross profit for the period was $51 mn vs. $56.5 mn in 4Q2016. The decline in gross profit was on account of fall in profit from the Other Fresh Produce and the Prepared Food segments. After facing severe margin pressures over the past 1 year due to oversupply in the market, the Banana segment [which accounts for about 43%/34% of the company’s revenues/ gross profits] showed a significant improvement for the first time this quarter. The last one year witnessed one of the most challenging banana markets in many years as the market was flooded with excess supply throughout the period resulting in lower ASP and margins. However, the situation now seems to be much better with a more balanced demand and supply condition. This has resulted in a substantial improvement in the segment gross profits from $4.6 mn in 4Q2016 to about $14.7 mn this quarter.
Analyst: Ajeya Patil

FDP reported results for the fourth quarter and year ended December 2017. Revenue for the quarter came in at $953.7 mn vs. $954.6 mn in 4Q2016 while EPS was -$0.08 vs. +$0.26 in the corresponding period last year and our estimate of $0.22. The main reason for the fall in EPS was an increase in income tax which was an expense of $6.0 mn in 4Q2017 vs. a benefit of $13.6 mn in 4Q2016. In fact, the profit before tax for the quarter was higher in 4Q2017 at -$0.7 mn vs. -$3.1 mn in 4Q2016. Gross profit for the period was $51 mn vs. $56.5 mn in 4Q2016. The decline in gross profit was on account of fall in profit from the Other Fresh Produce and the Prepared Food segments. After facing severe margin pressures over the past 1 year due to oversupply in the market, the Banana segment [which accounts for about 43%/34% of the company’s revenues/ gross profits] showed a significant improvement for the first time this quarter. The last one year witnessed one of the most challenging banana markets in many years as the market was flooded with excess supply throughout the period resulting in lower ASP and margins. However, the situation now seems to be much better with a more balanced demand and supply condition. This has resulted in a substantial improvement in the segment gross profits from $4.6 mn in 4Q2016 to about $14.7 mn this quarter.
Analyst: Ajeya Patil

Fresh Del Monte Produce

전망 개선