Fred's (FRED) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Fred's (NASDAQ:FRED) posted its quarterly earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.17) by $0.02, Analyst Ratings Network.com reports. The company had revenue of $491.20 million for the quarter, compared to the consensus estimate of $488.07 million. During the same quarter last year, the company posted $0.09 earnings per share. Fred's’s revenue was up 1.9% compared to the same quarter last year. Fred's updated its FY16 guidance to $0.72-0.82 EPS.
FRED has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Fred's from an “underperform” rating to a “neutral” rating in a research note on Friday, July 18th. They now have a $17.00 price target on the stock. On the ratings front, analysts at TheStreet downgraded shares of Fred's from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of Fred's in a research note on Friday, May 30th. They now have a $12.00 price target on the stock, down previously from $14.00. Seven investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $15.25.
Shares of Fred's (NASDAQ:FRED) traded down 1.51% on Thursday, hitting $15.03. 292,440 shares of the company’s stock traded hands. Fred's has a one year low of $14.53 and a one year high of $21.05. The stock’s 50-day moving average is $15.74 and its 200-day moving average is $16.9. The company has a market cap of $553.9 million and a P/E ratio of 26.96.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.
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