Shares of Fred’s, Inc. (NASDAQ:FRED) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $13.50.
Several equities research analysts have recently commented on the company. ValuEngine downgraded Fred’s from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Deutsche Bank AG dropped their price target on Fred’s from $16.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, June 29th. TheStreet cut Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Zacks Investment Research cut Fred’s from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Finally, Loop Capital started coverage on Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 price objective on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRED. Louisiana State Employees Retirement System increased its holdings in shares of Fred’s by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock valued at $187,000 after acquiring an additional 200 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Fred’s by 24.2% during 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 during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Fred’s by 5.4% during the first quarter. Great West Life Assurance Co. Can now owns 47,266 shares of the company’s stock valued at $619,000 after buying an additional 2,417 shares during the last quarter. Comerica Bank boosted its position in shares of Fred’s by 4.5% during the first quarter. Comerica Bank now owns 38,964 shares of the company’s stock valued at $579,000 after buying an additional 1,685 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Fred’s during the first quarter valued at approximately $404,000.
Shares of Fred’s (NASDAQ:FRED) traded down 2.27% on Friday, hitting $6.45. 776,378 shares of the company’s stock traded hands. The company’s market cap is $245.60 million. The firm’s 50-day moving average price is $6.45 and its 200 day moving average price is $10.76. Fred’s has a 1-year low of $5.62 and a 1-year high of $21.77.
Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The business had revenue of $507.80 million during the quarter, compared to analyst estimates of $504.90 million. During the same period in the previous year, the firm earned ($0.18) EPS. Fred’s’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Fred’s will post ($0.38) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 3.73%. Fred’s’s payout ratio is currently -7.04%.
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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