Stock Idea: Dole Food Co. Inc. (DOLE, $13.97)

(May 16, 2011 update: All future stock posts will appear on my new subscription-only website at www.GoodfellowLLC.com. Please visit!)

Dole Food Co. Inc. (DOLE) is a producer, marketer and distributor of fresh fruit and vegetables, and packaged products, in North America, Europe and Asia.

Projected consensus EPS growth is 53% and 24% for fiscal years 2011 and 2012. The PE based on 2011 projected EPS of $1.42 is 9.8. This is an incredibly low PE for a company with strong projected earnings growth! (Commodity pricing pressures have already been figured into these earnings projections by Wall Street analysts.)

The stock recently established a new trading range from approximately $13.50 - $14.80. I would buy this stock near $13.50 and then hold it for the next move upwards.


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