Family Dollar Stores PT Raised to $62.00 at Canaccord Genuity (FDO)
Equities researchers at Canaccord Genuity increased their target price on shares of Family Dollar Stores (NYSE:FDO) from $58.00 to $62.00 in a research report issued on Wednesday, StockRatingsNetwork reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target indicates a potential downside of 9.77% from the company’s current price.
Family Dollar Stores (NYSE:FDO) traded down 1.07% during mid-day trading on Wednesday, hitting $68.71. The stock had a trading volume of 3,511,845 shares. Family Dollar Stores has a 1-year low of $54.06 and a 1-year high of $75.29. The stock’s 50-day moving average is $72.08 and its 200-day moving average is $66.21. The company has a market cap of $7.902 billion and a P/E ratio of 19.10.
Family Dollar Stores (NYSE:FDO) last released its earnings data on Wednesday, October 9th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, analysts predict that Family Dollar Stores will post $3.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, September 11th.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Family Dollar Stores in a research note to investors on Wednesday. They now have a $65.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Family Dollar Stores from $73.00 to $78.00 in a research note to investors on Tuesday, October 1st. They now have a “buy” rating on the stock. Finally, analysts at Northcoast Research downgraded shares of Family Dollar Stores from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $65.56.
Family Dollar Stores, Inc operates a chain of more than 7,400 general merchandise retail discount stores in 45 states, providing consumers with a selection of merchandise in neighborhood stores.
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