Analysts Expect Fred’s, Inc. (FRED) to Announce -$0.14 Earnings Per Share
Wall Street analysts expect that Fred’s, Inc. (NASDAQ:FRED) will post ($0.14) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fred’s’ earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.17). Fred’s reported earnings per share of ($0.27) during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.1%. The company is expected to announce its next earnings report on Thursday, December 14th.
According to Zacks, analysts expect that Fred’s will report full-year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.45) to ($0.39). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.26) to $0.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Fred’s.
Fred’s (NASDAQ:FRED) last posted its quarterly earnings results on Wednesday, September 6th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The company had revenue of $507.80 million for the quarter, compared to analysts’ expectations of $504.90 million. During the same period in the previous year, the firm earned ($0.18) EPS. The firm’s revenue was down 4.1% compared to the same quarter last year.
FRED has been the topic of several research analyst reports. Zacks Investment Research raised Fred’s from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Loop Capital initiated coverage on Fred’s in a report on Thursday, August 24th. They issued a “hold” rating and a $6.00 price objective on the stock. TheStreet lowered Fred’s from a “c-” rating to a “d” rating in a report on Monday, July 3rd. Finally, Deutsche Bank AG decreased their target price on Fred’s from $16.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Fred’s has an average rating of “Hold” and a consensus price target of $13.50.
Fred’s (NASDAQ FRED) opened at 5.38 on Thursday. Fred’s has a 12-month low of $5.22 and a 12-month high of $21.77. The company has a 50-day moving average price of $6.40 and a 200-day moving average price of $9.55. The stock’s market capitalization is $204.85 million.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in shares of Fred’s by 6.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock valued at $125,000 after acquiring an additional 804 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Fred’s in the second quarter valued at approximately $157,000. The Manufacturers Life Insurance Company lifted its position in shares of Fred’s by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 28,416 shares of the company’s stock valued at $263,000 after acquiring an additional 405 shares in the last quarter. State Street Corp lifted its position in shares of Fred’s by 12.8% in the second quarter. State Street Corp now owns 1,271,228 shares of the company’s stock valued at $11,732,000 after acquiring an additional 144,437 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Fred’s by 9.0% in the second quarter. Voya Investment Management LLC now owns 19,503 shares of the company’s stock valued at $180,000 after acquiring an additional 1,613 shares in the last quarter.
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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