$540.14 Million in Sales Expected for Fred's, Inc. (FRED) This Quarter

Wall Street brokerages expect that Fred's, Inc. (NASDAQ:FRED) will announce $540.14 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Fred's’ earnings, with the highest sales estimate coming in at $564.67 million and the lowest estimate coming in at $515.60 million. Fred's posted sales of $529.73 million in the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is expected to report its next earnings report on Thursday, April 5th.

According to Zacks, analysts expect that Fred's will report full-year sales of $540.14 million for the current year, with estimates ranging from $2.05 billion to $2.11 billion. For the next year, analysts forecast that the company will post sales of $2.04 billion per share, with estimates ranging from $2.01 billion to $2.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Fred's.

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

Several equities research analysts recently weighed in on FRED shares. Loop Capital restated a “hold” rating and set a $4.00 target price on shares of Fred's in a report on Thursday, December 7th. Zacks Investment Research cut Fred's from a “hold” rating to a “strong sell” rating in a report on Monday, December 11th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.00.

Shares of Fred's (NASDAQ:FRED) opened at $3.20 on Friday. The firm has a market capitalization of $118.89, a PE ratio of -0.85 and a beta of 1.52. Fred's has a fifty-two week low of $2.85 and a fifty-two week high of $16.27. The company has a current ratio of 1.78, a quick ratio of 0.44 and a debt-to-equity ratio of 0.77.

Fred's announced that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other Fred's news, Director Timothy A. Barton purchased 85,000 shares of the 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 transaction, the director now directly owns 113,123 shares of the company’s stock, valued at approximately $445,704.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position 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 last quarter. GSA Capital Partners LLP bought a new position in Fred's during the 3rd quarter valued at approximately $109,000. Voya Investment Management LLC raised its position 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 last quarter. Jefferies Group LLC bought a new position in Fred's during the 4th quarter valued at approximately $103,000. Finally, BNP Paribas Arbitrage SA raised its position in Fred's by 153.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,225 shares of the company’s stock valued at $169,000 after purchasing an additional 15,861 shares during the last quarter.

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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.

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Earnings History and Estimates for Fred's (NASDAQ:FRED)

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