Auriga Maintains a 'Buy' on Dole (DOLE); Q1 Preview - Expect Beat, But Tough Comparisons

Auriga maintains a 'Buy' on Dole (NYSE: DOLE) price target of $14.00.

Analyst, Gary Albanese, said, "DOLE is scheduled to report 1Q results on Thursday, and we are expecting earnings to be below last year. We are expecting EPS of $0.44, which is below last year EPS of $0.51 but above consensus of $0.31. We also expect revenue of $1.71 billion compared to $1.69 billion last year. Several factors are expected to adversely impact the company during the quarter, including the lack of a force majeure price increase that was implemented last year, higher sourcing costs, and higher transportation costs. Nevertheless, we expect results better than consensus due to the reduction of lower margin businesses and new value added businesses, such as SunnyRidge Farms. Overall, we continue to recommend investors Buy Dole Shares...We continue to believe Dole Food trades cheap compared to its peers, with a forward P/E just above 6x compared to peers near 10x."

For an analyst ratings summary and ratings history on Dole click here. For more ratings news on Dole click here.

Shares of Dole closed at $8.35 yesterday.

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