Family Dollar Stores Given New $56.00 Price Target at Canaccord Genuity (FDO)
Investment analysts at Canaccord Genuity lowered their price objective on shares of Family Dollar Stores (NYSE:FDO) from $62.00 to $56.00 in a note issued to investors on Thursday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target suggests a potential downside of 15.59% from the company’s current price.
Family Dollar Stores (NYSE:FDO) traded down 6.56% during mid-day trading on Thursday, hitting $61.99. 5,039,725 shares of the company’s stock traded hands. Family Dollar Stores has a 52 week low of $54.06 and a 52 week high of $75.29. The stock has a 50-day moving average of $66.59 and a 200-day moving average of $68.. The company has a market cap of $7.135 billion and a P/E ratio of 17.32.
Family Dollar Stores (NYSE:FDO) last issued its quarterly earnings data on Thursday, January 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by $0.01. The company had revenue of $2.50 million for the quarter, compared to the consensus estimate of $2.51 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Family Dollar Stores will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of 0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, December 11th.
Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners downgraded shares of Family Dollar Stores from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Deutsche Bank cut their price target on shares of Family Dollar Stores from $65.00 to $64.00 in a research note to investors on Monday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Family Dollar Stores in a research note to investors on Tuesday, December 31st. They now have a $68.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company. Family Dollar Stores has a consensus rating of “Hold” and a consensus target price of $65.31.
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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