Fred's, Inc. (FRED) Issues FY16 Earnings Guidance
Fred's, Inc. (NASDAQ:FRED) updated its FY16 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.72-0.82 for the period, compared to the Thomson Reuters consensus estimate of $0.67, American Banking and Market News reports.
Fred's, Inc. (NASDAQ:FRED) traded down 1.51% during mid-day trading on Thursday, hitting $15.03. The stock had a trading volume of 293,674 shares. Fred's, Inc. 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.
Fred's (NASDAQ:FRED) last released its earnings data on Thursday, August 28th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.17) by $0.02. The company had revenue of $491.20 million for the quarter, compared to the consensus estimate of $488.07 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Fred's, Inc. will post $0.25 earnings per share for the current fiscal year.
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.
A number of analysts have recently weighed in on FRED shares. 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 a related note, 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 research analysts have rated the stock with a hold rating, Fred's has an average rating of Hold and an average target price of $15.25.
Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.