Shares of Dole Food Company, Inc. (NYSE:DOLE) plunged more than 7 percent on Friday following the firm declared a surprise Q3 loss.
Excluding one-time items, Dole recently declared an adjusted loss from continuing operations of $5.3M, or 6 cents a share. Revenue plunged 6% to $1.96B.
Analysts polled by FactSet anticipated an adjusted profit of 14 cents a share on $2.07B in revenue.
Dole reported that it faced numerous challenges through the current quarter, including an ongoing quarantine issue involving China and the Philippines, plus tough growing conditions and the effects of unfavorable currency exchange rates.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Kraft Foods Group Inc (NASDAQ:KRFT) gain +0.61%, H.J. Heinz Company (NYSE:HNZ) edged up +0.28%, Unilever plc (ADR) (NYSE:UL) which also decreased -0.19% and Annies Inc (NYSE:BNNY) closed up +3.94%.
Dole Food Company, Inc. (NYSE:DOLE) stock’s trade at beginning with a price of $11.11 and throughout the trading session climbed at a high of $11.82 other than when day-trade ended the stock finally decreased -7.84% to $10.70.
The stock is going forward its 52 week low with 33.42% and lagging behind from its 52 week high price with -29.56%. DOLE last month stock price volatility remained 3.39%.
DOLE stock institutional ownership remained 46.70% while insider ownership included 0.77%. In its share capital DOLE has 88.82 million outstanding shares among them 29.04 million shares have been floated in market exchange.
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