$497.36 Million in Sales Expected for Fred’s, Inc. (FRED) This Quarter
Brokerages expect Fred’s, Inc. (NASDAQ:FRED) to report sales of $497.36 million for the current quarter, according to Zacks Investment Research. 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 business is scheduled to issue its next 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 year, analysts anticipate that the firm will report sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.07 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Fred’s.
Fred’s (NASDAQ:FRED) last announced its earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative net margin of 6.08% and a negative return on equity of 4.02%. The business had revenue of $507.80 million during the quarter, compared to the consensus estimate of $504.90 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Fred’s from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. TheStreet cut shares of Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Deutsche Bank AG lowered their price target on shares of Fred’s from $16.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, June 29th. Loop Capital assumed coverage on shares of Fred’s in a research report on Thursday, August 24th. They issued a “hold” rating and a $6.00 price target for the company. Finally, ValuEngine cut shares of Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Fred’s presently has an average rating of “Hold” and a consensus target price of $13.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC raised its stake in shares of Fred’s by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock worth $108,000 after acquiring an additional 553 shares in the last quarter. Howard Hughes Medical Institute raised its stake in shares of Fred’s by 23.7% during the 2nd quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock worth $124,000 after acquiring an additional 2,574 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Fred’s by 6.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock worth $125,000 after acquiring an additional 804 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Fred’s by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $135,000 after acquiring an additional 300 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Fred’s during the 1st quarter worth approximately $136,000.
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Fred’s (NASDAQ FRED) opened at 6.85 on Wednesday. The firm’s 50 day moving average is $6.37 and its 200-day moving average is $11.23. The company’s market cap is $260.65 million. Fred’s has a 52 week low of $5.62 and a 52 week high of $21.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 3.50%. Fred’s’s payout ratio is presently -7.04%.
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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