Fred's Given “Neutral” Rating at Wedbush (FRED)
Fred's (NASDAQ:FRED)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report released on Friday. They currently have a $12.00 price objective on the stock, down from their previous price objective of $14.00. Wedbush’s price target would suggest a potential downside of 23.47% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at BB&T Corp. downgraded shares of Fred's from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at Zacks downgraded shares of Fred's from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 23rd. They now have a $17.00 price target on the stock. Finally, analysts at Trading Central downgraded shares of Fred's from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Fred's currently has a consensus rating of “Hold” and a consensus price target of $15.25.
Fred's (NASDAQ:FRED) traded down 2.87% during mid-day trading on Friday, hitting $15.23. The stock had a trading volume of 208,819 shares. Fred's has a 52-week low of $14.54 and a 52-week high of $21.05. The stock’s 50-day moving average is $17.41 and its 200-day moving average is $17.85. The company has a market cap of $560.4 million and a price-to-earnings ratio of 22.08.
Fred's (NASDAQ:FRED) last released its earnings data on Thursday, May 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. The company had revenue of $498.30 million for the quarter, compared to the consensus estimate of $501.64 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that Fred's will post $0.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, May 29th.
Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.
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