Fred’s, Inc. (NASDAQ:FRED) issued its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04, MarketWatch Earnings reports. The company had revenue of $507.80 million during the quarter, compared to analysts’ expectations of $504.90 million. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share.

Shares of Fred’s (NASDAQ FRED) opened at 6.74 on Thursday. The stock has a 50 day moving average price of $6.36 and a 200 day moving average price of $11.46. Fred’s has a 52 week low of $5.62 and a 52 week high of $21.77. The firm’s market cap is $256.46 million.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 3.56%. Fred’s’s payout ratio is -8.54%.

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Several equities research analysts have recently weighed in on FRED shares. Zacks Investment Research raised Fred’s from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Deutsche Bank AG reissued a “hold” rating and issued a $17.00 price target (down previously from $19.00) on shares of Fred’s in a research note on Saturday, June 3rd. Loop Capital started coverage on Fred’s in a research note on Thursday, August 24th. They issued a “hold” rating and a $6.00 price target for the company. TheStreet cut Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Finally, ValuEngine cut Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.50.

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in 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 period. Verition Fund Management LLC purchased a new position in Fred’s during the 2nd quarter valued at about $157,000. The Manufacturers Life Insurance Company increased its holdings in 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 period. State Street Corp increased its holdings in Fred’s by 12.8% during the 2nd quarter. State Street Corp now owns 1,271,228 shares of the company’s stock valued at $11,732,000 after purchasing an additional 144,437 shares during the period. Finally, Voya Investment Management LLC increased its holdings in 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 period.

About Fred’s

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.

Earnings History for Fred`s (NASDAQ:FRED)

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