Dean Foods Hits 52-Week Low (DF)

Shares of Dean Foods Company DF are currently down 17.7% at $8.52 per share during Tuesday afternoon trading. Today's trading range for shares of Dean Foods Company has been between a 52-week low of $8.50 and $8.90 per share. The consensus price target of analysts covering the company's stock is $12.35 per share. Volume of 25.3 million shares is already nearly 7 times the daily average volume of 3.7 million shares. Dean Foods Company (DF) released financial results early Tuesday morning that missed Wall Street estimates. Dean Foods Company reported 3rd quarter earnings of 13 cents per share, on revenue of $3.05 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 21 cents per share, on revenue of $3.04 billion. Chairman and chief executive officer Gregg Engles said, “These results are clearly disappointing for us and reflect continued significant challenges in our largest business, Fresh Dairy Direct-Morningstar. Despite our poor consolidated performance, WhiteWave-Alpro continued to perform exceptionally well and delivered significant top and bottom line growth. However, given the relative size of the business, it was not enough to offset substantially weaker results in our Fresh Dairy Direct-Morningstar segment. In addition to ongoing adverse conditions in the conventional milk business, weak consumer spending led to soft volumes in conventional fluid milk and other beverage and cultured products within our Fresh Dairy Direct-Morningstar business. Our results were also impacted by much higher than anticipated butterfat costs. In response to a weak trading environment and our on-going poor performance, we continue to take aggressive steps to improve our results, including accelerated cost reductions and the recent realignment of our management and organizational structure.” Read more from Benzinga's Company news.