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Fred's (NASDAQ:FRED) reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings, American Banking & Market News reports. The stock traded as low as $14.13 and last traded at $14.20, with a volume of 157,984 shares changing hands. The stock had previously closed at $15.03.

The company reported ($0.19) earnings per share for the quarter, missing the analysts’ 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 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.

The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, September 3rd.

Several analysts have recently commented on the stock. 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. Analysts at TheStreet downgraded shares of Fred's from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Seven investment analysts have rated the stock with a hold rating, Fred's currently has a consensus rating of “Hold” and an average price target of $15.25.

The stock’s 50-day moving average is $15.74 and its 200-day moving average is $16.95. The company has a market cap of $523.0 million and a price-to-earnings ratio of 26.55.

Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.

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