Family Dollar Stores Given New $54.00 Price Target at Wedbush (FDO)
Stock analysts at Wedbush cut their price objective on shares of Family Dollar Stores (NYSE:FDO) from $60.00 to $54.00 in a report issued on Friday, StockRatingsNetwork.com reports. Wedbush’s target price indicates a potential downside of 3.74% from the company’s current price.
Shares of Family Dollar Stores (NYSE:FDO) traded down 1.87% on Friday, hitting $56.10. 4,275,743 shares of the company’s stock traded hands. Family Dollar Stores has a 1-year low of $55.69 and a 1-year high of $75.29. The stock’s 50-day moving average is $61.06 and its 200-day moving average is $65.57. The company has a market cap of $6.384 billion and a price-to-earnings ratio of 16.80. Family Dollar Stores also was the recipient of unusually large options trading on Thursday. Investors bought 11,451 call options on the company. This represents an increase of approximately 271% compared to the average volume of 3,086 call options.
Family Dollar Stores (NYSE:FDO) last posted its quarterly earnings results on Thursday, April 10th. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.90 by $0.10. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts expect that Family Dollar Stores will post $3.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Wednesday, March 12th. This is a boost from Family Dollar Stores’s previous quarterly dividend of $0.26.
A number of other firms have also recently commented on FDO. Analysts at BMO Capital Markets cut their price target on shares of Family Dollar Stores to $59.00 in a research note on Friday. They now have a “market perform” rating on the stock. Separately, analysts at MKM Partners cut their price target on shares of Family Dollar Stores from $60.00 to $58.00 in a research note on Friday. They now have a “positive” rating on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of Family Dollar Stores from $60.00 to $57.00 in a research note on Friday. They now have a “not rated” rating on the stock. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $59.95.
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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