Family Dollar Stores Sees Unusually-High Trading Volume After Analyst Upgrade (FDO)
Shares of Family Dollar Stores (NYSE:FDO) saw unusually-high trading volume on Thursday after Canaccord Genuity raised their price target on the stock from $49.00 to $56.00, Analyst Ratings News reports. Canaccord Genuity currently has a hold rating on the stock. Approximately 2,363,935 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 1,680,482 shares.The stock last traded at $64.57 and had previously closed at $64.24.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Family Dollar Stores in a research note on Tuesday. They now have a $59.00 price target on the stock, up previously from $57.00. Separately, analysts at Zacks reiterated an “underperform” rating on shares of Family Dollar Stores in a research note on Thursday, June 19th. They now have a $61.00 price target on the stock. Finally, analysts at Bank of America reiterated an “underperform” rating on shares of Family Dollar Stores in a research note on Tuesday, June 10th. They now have a $53.00 price target on the stock. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. Family Dollar Stores currently has a consensus rating of “Hold” and an average price target of $61.62.
The stock has a 50-day moving average of $63.73 and a 200-day moving average of $61.98. The company has a market cap of $7.347 billion and a P/E ratio of 18.88. Family Dollar Stores also saw unusually large options trading activity on Wednesday. Stock investors acquired 8,760 call options on the stock. This is an increase of approximately 178% compared to the average daily volume of 3,151 call options.
Family Dollar Stores (NYSE:FDO) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.85 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.89 by $0.04. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company posted $1.05 earnings per share. Family Dollar Stores’s revenue was up 3.3% 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 announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, June 11th.
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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