Wolfe Research Upgrades Family Dollar Stores to “Market Perform” (FDO)
Family Dollar Stores (NYSE:FDO) was upgraded by investment analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on FDO. Analysts at Gilford Securities downgraded shares of Family Dollar Stores from a “hold” rating to a “sell” rating in a research note to investors on Friday. Separately, analysts at Telsey Advisory Group cut their price target on shares of Family Dollar Stores from $62.00 to $60.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Family Dollar Stores from $62.00 to $56.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $65.00.
Family Dollar Stores (NYSE:FDO) traded up 3.86% during mid-day trading on Friday, hitting $67.48. 6,919,913 shares of the company’s stock traded hands. Family Dollar Stores has a one year low of $54.06 and a one year high of $75.29. The stock’s 50-day moving average is $66.44 and its 200-day moving average is $68.89. The company has a market cap of $7.767 billion and a price-to-earnings ratio of 16.96. Family Dollar Stores also was the target of some unusual options trading on Thursday. Traders purchased 17,724 put options on the company. This represents an increase of 648% compared to the average daily volume of 2,371 put options.
Family Dollar Stores (NYSE:FDO) last announced its earnings results on Thursday, January 9th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that Family Dollar Stores will post $3.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of 0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Wednesday, December 11th.
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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