Brokerages forecast that Fred’s, Inc. (NASDAQ:FRED) will announce $497.36 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Fred’s’ earnings. The lowest sales estimate is $491.20 million and the highest is $501.19 million. Fred’s posted sales of $516.65 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, December 14th.

According to Zacks, analysts expect that Fred’s will report full-year sales of $497.36 million for the current financial year, with estimates ranging from $2.04 billion to $2.11 billion. For the next fiscal year, analysts expect that the company will post sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Fred’s.

Fred’s (NASDAQ:FRED) last released its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $507.80 million for the quarter, compared to analyst estimates of $504.90 million. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share.

A number of equities analysts have recently weighed in on the company. Deutsche Bank AG cut their target price on Fred’s from $16.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, June 29th. TheStreet downgraded Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Zacks Investment Research downgraded Fred’s from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Finally, Loop Capital assumed coverage on Fred’s in a research note on Thursday, August 24th. They issued a “hold” rating and a $6.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Fred’s currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board raised its holdings in shares of Fred’s by 129.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 194,100 shares of the company’s stock worth $1,792,000 after purchasing an additional 109,600 shares during the period. State of Tennessee Treasury Department raised its holdings in shares of Fred’s by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 32,687 shares of the company’s stock worth $428,000 after purchasing an additional 4,933 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Fred’s by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 267,355 shares of the company’s stock worth $3,502,000 after purchasing an additional 9,888 shares during the period. Paloma Partners Management Co bought a new stake in shares of Fred’s in the 1st quarter worth approximately $136,000. Finally, Mason Street Advisors LLC raised its holdings in shares of Fred’s by 7.2% in the 1st quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock worth $108,000 after purchasing an additional 553 shares during the period.

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Shares of Fred’s (FRED) opened at 5.39 on Friday. Fred’s has a 1-year low of $5.22 and a 1-year high of $21.77. The firm has a 50-day moving average price of $6.37 and a 200 day moving average price of $9.46. The company’s market cap is $205.24 million.

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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Earnings History and Estimates for Fred`s (NASDAQ:FRED)

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