Fred’s, Inc. (FRED) to Issue Quarterly Dividend of $0.06 on September 15th
Fred’s, Inc. (NASDAQ:FRED) declared a quarterly dividend on Friday, August 18th, RTT News reports. Shareholders of record on Friday, September 1st will be paid a dividend of 0.06 per share on Friday, September 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Wednesday, August 30th.
Fred’s (FRED) opened at 6.18 on Tuesday. Fred’s has a 52 week low of $5.62 and a 52 week high of $21.77. The firm’s market cap is $235.16 million. The firm’s 50 day moving average price is $6.45 and its 200-day moving average price is $12.03.
Fred’s (NASDAQ:FRED) last released its quarterly earnings data on Tuesday, June 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.03. The firm had revenue of $532.32 million for the quarter, compared to analyst estimates of $520.28 million. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, analysts forecast that Fred’s will post ($0.39) EPS for the current year.
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Several research firms have recently weighed in on FRED. ValuEngine lowered shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Deutsche Bank AG restated a “hold” rating and set a $17.00 price objective (down from $19.00) on shares of Fred’s in a research note on Saturday, June 3rd. TheStreet lowered shares of Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Zacks Investment Research upgraded shares of Fred’s from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Loop Capital began coverage on shares of Fred’s in a research note on Thursday, August 24th. They set a “hold” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.60.
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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