Family Dollar Stores Stock Price Down 3.4% Following Weak Earnings (FDO)
Family Dollar Stores (NYSE:FDO)’s share price traded down 3.4% during mid-day trading on Friday following a dissappointing earnings announcement, Analyst Ratings Network.com reports. The company traded as low as $61.92 and last traded at $61.97, with a volume of 1,304,913 shares traded. The stock had previously closed at $64.12.
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.
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.
Several analysts have recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Family Dollar Stores from $58.00 to $67.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Telsey Advisory Group reiterated a “” rating on shares of Family Dollar Stores in a research note on Friday. They now have a $57.00 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Family Dollar Stores from $49.00 to $56.00 in a research note on Thursday. They now have a “hold” rating on the stock. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.05.
The stock’s 50-day moving average is $64.18 and its 200-day moving average is $62.00. The company has a market cap of $7.063 billion and a price-to-earnings ratio of 18.85. Family Dollar Stores also was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 8,760 call options on the company. This is an increase of 178% compared to the typical volume of 3,151 call options.
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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