Fred’s Inc. (NASDAQ:FRED) – Analysts at SunTrust Banks dropped their Q3 2017 earnings per share estimates for shares of Fred’s in a research note issued to investors on Thursday. SunTrust Banks analyst D. Magee now anticipates that the firm will post earnings of ($0.15) per share for the quarter, down from their previous estimate of ($0.13). SunTrust Banks also issued estimates for Fred’s’ Q4 2017 earnings at ($0.08) EPS.
Several other research analysts have also recently commented on the stock. Sidoti upgraded shares of Fred’s from a “neutral” rating to a “buy” rating in a report on Friday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Fred’s from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 31st. Deutsche Bank AG lowered their price target on shares of Fred’s from $12.00 to $10.00 and set a “sell” rating for the company in a report on Wednesday, August 31st. TheStreet cut shares of Fred’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Finally, MKM Partners reiterated a “neutral” rating and set a $14.00 price target on shares of Fred’s in a report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Fred’s has an average rating of “Hold” and a consensus target price of $12.80.
Shares of Fred’s (NASDAQ:FRED) opened at 9.57 on Monday. The company’s 50-day moving average is $10.69 and its 200 day moving average is $13.83. Fred’s has a 52-week low of $8.98 and a 52-week high of $17.14. The firm’s market cap is $357.42 million.
Fred’s (NASDAQ:FRED) last issued its earnings results on Tuesday, August 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. Fred’s had a negative net margin of 0.37% and a positive return on equity of 0.13%. The firm earned $529.50 million during the quarter, compared to analysts’ expectations of $546.23 million. During the same quarter last year, the company posted ($0.13) earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Fred’s by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,560,455 shares of the company’s stock valued at $67,996,000 after buying an additional 233,539 shares during the period. Springbok Capital Management LLC increased its stake in Fred’s by 1,889.2% in the first quarter. Springbok Capital Management LLC now owns 12,731 shares of the company’s stock valued at $190,000 after buying an additional 12,091 shares during the period. Renaissance Technologies LLC acquired a new stake in Fred’s during the first quarter valued at approximately $521,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Fred’s during the second quarter valued at approximately $1,116,000. Finally, Systematic Financial Management LP acquired a new stake in Fred’s during the second quarter valued at approximately $1,367,000. Institutional investors and hedge funds own 95.09% of the company’s stock.
In other news, Director Michael Hayes sold 9,369 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $10.17, for a total value of $95,282.73. Following the completion of the transaction, the director now owns 1,538,152 shares in the company, valued at approximately $15,643,005.84. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.40% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Wednesday, August 31st. Fred’s’s payout ratio is -109.09%.
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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