Analysts Issue Forecasts for Fred’s, Inc.’s Q3 2018 Earnings (FRED)
Fred’s, Inc. (NASDAQ:FRED) – Research analysts at Northcoast Research issued their Q3 2018 earnings per share estimates for Fred’s in a research report issued on Thursday. Northcoast Research analyst N. Mitchell expects that the company will post earnings of ($0.12) per share for the quarter. Northcoast Research also issued estimates for Fred’s’ Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.39) EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at ($0.15) EPS, Q3 2019 earnings at ($0.09) EPS, Q4 2019 earnings at ($0.03) EPS and FY2019 earnings at ($0.26) EPS.
Several other research firms have also recently weighed in on FRED. Zacks Investment Research cut shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Loop Capital started coverage on shares of Fred’s in a research note on Thursday, August 24th. They issued a “hold” rating and a $6.00 target price for the company. ValuEngine cut shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. TheStreet cut shares of Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Finally, Deutsche Bank AG decreased their target price on shares of Fred’s from $16.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.
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Shares of Fred’s (NASDAQ:FRED) traded up 1.8745% during mid-day trading on Monday, hitting $6.9784. 449,245 shares of the stock were exchanged. Fred’s has a 12-month low of $5.62 and a 12-month high of $21.77. The company’s market capitalization is $265.72 million. The firm has a 50-day moving average price of $6.37 and a 200 day moving average price of $11.23.
Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share for the quarter, topping 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 analysts’ expectations of $504.90 million. During the same period in the previous year, the company earned ($0.18) earnings per share. Fred’s’s revenue for the quarter was down 4.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 3.50%. Fred’s’s dividend payout ratio is presently -7.04%.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Fred’s by 0.9% in the second quarter. Vanguard Group Inc. now owns 3,284,949 shares of the company’s stock valued at $30,321,000 after buying an additional 30,719 shares in the last quarter. State Street Corp grew its stake 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 buying an additional 144,437 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Fred’s in the second quarter valued at $11,058,000. Wells Fargo & Company MN grew its stake in shares of Fred’s by 24.2% in the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock valued at $10,172,000 after buying an additional 151,144 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Fred’s by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 550,478 shares of the company’s stock valued at $5,081,000 after buying an additional 22,736 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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