S&P Equity Research Downgrades Family Dollar Stores to Strong Sell (FDO)
Family Dollar Stores (NYSE:FDO) traded up 13.37% during mid-day trading on Monday, hitting $68.62. 8,627,699 shares of the company’s stock traded hands. Family Dollar Stores has a 52-week low of $55.64 and a 52-week high of $75.29. The stock’s 50-day moving average is $57.7 and its 200-day moving average is $62.13. The company has a market cap of $7.811 billion and a price-to-earnings ratio of 17.79. Family Dollar Stores also was the recipient of some unusual options trading on Friday. Investors bought 11,128 call options on the company. This is an increase of approximately 665% compared to the average daily volume of 1,455 call options.
Family Dollar Stores (NYSE:FDO) last posted its quarterly earnings results on Thursday, April 10th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.21 earnings per share. Family Dollar Stores’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that Family Dollar Stores will post $3.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, June 11th.
FDO has been the subject of a number of other recent research reports. Analysts at Gilford Securities upgraded shares of Family Dollar Stores from a “sell” rating to a “neutral” rating in a research note on Monday. Separately, analysts at Morgan Stanley downgraded shares of Family Dollar Stores from a “hold” rating to a “sell” rating in a research note on Monday. They now have a $79.00 price target on the stock, up previously from $60.53. Finally, analysts at Jefferies Group upgraded shares of Family Dollar Stores from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $79.00 price target on the stock, up previously from $55.00. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $61.10.
Family Dollar Stores, Inc (NYSE:FDO) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores.
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