Del Monte Foods, Co. (DLM) continues to see upward revisions following another solid quarter.
Company Description
Del Monte Foods manufactures and distributes premium quality, nutritious food products under Del Monte, Contadina and other brand names. The company is the largest producer and distributor of canned vegetables and fruit in the United States.
Del Monte sells its products primarily through national grocery chains and independent grocery stores in addition to warehouse club stores and mass merchandisers.
Estiamtes Rising
The Zacks Consensus Estimate for full-year fiscal 2010 is not 95 cents, up from 79 cents 3 months ago. Next year’s estimates are averaging $1.01, up from 88 cents in the same time frame.
These levels would yield year-over-year growth rates of 28% and 6%, respectively.
Shares remain a solid value as well. One share will run you about 10 times earnings. Del Monte is the top rated canned food company, which is the third highest industry, our of 217.
The Chart
Following the first quarter results, the stock jumped into a new trading range. This level looks stabile and could provide a foundation for another leg up.
Read the March 27th Feature Here
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