Fred's, Inc. (FRED) Expected to Announce Earnings of -$0.04 Per Share

Brokerages forecast that Fred's, Inc. (NASDAQ:FRED) will post earnings of ($0.04) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Fred's’ earnings, with estimates ranging from ($0.07) to ($0.01). Fred's reported earnings of ($0.11) per share during the same quarter last year, which suggests a positive year over year growth rate of 63.6%. The business is expected to report its next quarterly earnings report on Thursday, April 5th.

According to Zacks, analysts expect that Fred's will report full year earnings of ($0.55) per share for the current fiscal year, with EPS estimates ranging from ($0.70) to ($0.39). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.24) per share, with EPS estimates ranging from ($0.32) to ($0.15). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Fred's.

Fred's (NASDAQ:FRED) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.29). Fred's had a negative return on equity of 9.94% and a negative net margin of 6.80%. The business had revenue of $493.60 million during the quarter, compared to analysts’ expectations of $499.77 million. During the same quarter in the previous year, the company posted ($0.27) EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis.

FRED has been the subject of a number of analyst reports. Zacks Investment Research lowered Fred's from a “hold” rating to a “strong sell” rating in a research note on Monday, December 11th. Loop Capital reiterated a “hold” rating and issued a $4.00 price target on shares of Fred's in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.00.

In related news, Director Timothy A. Barton acquired 85,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average price of $3.94 per share, with a total value of $334,900.00. Following the acquisition, the director now directly owns 113,123 shares of the company’s stock, valued at $445,704.62. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 6.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Fred's by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,416 shares of the company’s stock valued at $263,000 after purchasing an additional 405 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings 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 valued at $125,000 after purchasing an additional 804 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Fred's by 9.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,503 shares of the company’s stock valued at $180,000 after purchasing an additional 1,613 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Fred's by 8.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,470 shares of the company’s stock valued at $198,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Fred's by 1.0% during the 2nd quarter. Northern Trust Corp now owns 449,057 shares of the company’s stock valued at $4,145,000 after purchasing an additional 4,444 shares during the last quarter.

Shares of Fred's (FRED) traded up $0.13 during mid-day trading on Wednesday, reaching $3.93. The company’s stock had a trading volume of 379,431 shares, compared to its average volume of 751,316. Fred's has a 1-year low of $3.52 and a 1-year high of $19.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.78 and a quick ratio of 0.44. The stock has a market cap of $145.27, a price-to-earnings ratio of -1.05 and a beta of 1.82.

Fred's declared that its board has approved a stock repurchase plan on Wednesday, December 6th that authorizes the company to buyback 3,800,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

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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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