Analysts Expect Fred’s, Inc. (FRED) Will Post Quarterly Sales of $511.30 Million
Analysts predict that Fred’s, Inc. (NASDAQ:FRED) will report $511.30 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Fred’s’ earnings, with the highest sales estimate coming in at $530.81 million and the lowest estimate coming in at $498.60 million. Fred’s posted sales of $529.50 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.4%. The business is expected to issue its next quarterly earnings results on Tuesday, August 29th.
According to Zacks, analysts expect that Fred’s will report full year sales of $511.30 million for the current year, with estimates ranging from $4.65 billion to $4.68 billion. For the next fiscal year, analysts anticipate that the business will post sales of $7.16 billion per share, with estimates ranging from $7.13 billion to $7.20 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fred’s.
Fred’s (NASDAQ:FRED) last announced its quarterly earnings results on Tuesday, June 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. The company had revenue of $532.32 million for the quarter, compared to analysts’ expectations of $520.28 million. Fred’s had a negative net margin of 4.94% and a negative return on equity of 3.93%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS.
Several research firms have recently issued reports on FRED. Deutsche Bank AG restated a “hold” rating and set a $17.00 price objective (down previously from $19.00) on shares of Fred’s in a report on Saturday, June 3rd. ValuEngine downgraded shares of Fred’s from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Fred’s from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Fred’s currently has a consensus rating of “Hold” and a consensus target price of $16.80.
Shares of Fred’s (FRED) traded up 3.84% during mid-day trading on Thursday, hitting $10.00. 139,226 shares of the stock were exchanged. Fred’s has a 12 month low of $7.89 and a 12 month high of $21.77. The stock’s market cap is $380.51 million. The stock’s 50 day moving average is $13.27 and its 200-day moving average is $14.73.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.24 dividend on an annualized basis and a yield of 2.49%. Fred’s’s dividend payout ratio is currently -8.54%.
Large investors have recently modified their holdings of the stock. Horrell Capital Management Inc. raised its stake in shares of Fred’s by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock worth $357,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Fred’s by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $187,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Fred’s by 1.7% in the first quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $241,000 after buying an additional 300 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Fred’s by 7.2% in the first quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock worth $108,000 after buying an additional 553 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of Fred’s by 4.1% in the first quarter. Thrivent Financial For Lutherans now owns 19,830 shares of the company’s stock worth $260,000 after buying an additional 780 shares in the last quarter.
Fred’s Company Profile
Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.
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