Zacks: Analysts Expect Fred's, Inc. (FRED) Will Announce Quarterly Sales of $540.14 Million

Analysts forecast that Fred's, Inc. (NASDAQ:FRED) will post sales of $540.14 million for the current quarter, according to Zacks. Two analysts have issued estimates for Fred's’ earnings, with the lowest sales estimate coming in at $515.60 million and the highest estimate coming in at $564.67 million. Fred's posted sales of $529.73 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The company is scheduled to report its next quarterly earnings results on Thursday, April 5th.

On average, 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 fiscal year, analysts expect that the business will post sales of $2.04 billion per share, with estimates ranging from $2.01 billion to $2.07 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Fred's.

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A number of brokerages have recently commented on FRED. Zacks Investment Research raised Fred's from a “sell” rating to a “hold” rating in a research report on Tuesday. Loop Capital reissued a “hold” rating and set a $4.00 price target on shares of Fred's in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $6.00.

Shares of Fred's (NASDAQ:FRED) traded down $0.22 during trading hours on Friday, hitting $2.69. The stock had a trading volume of 1,320,000 shares, compared to its average volume of 1,130,000. The stock has a market capitalization of $102.83, a P/E ratio of -0.72 and a beta of 1.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.44 and a current ratio of 1.78. Fred's has a twelve month low of $2.63 and a twelve month high of $16.27.

Fred's announced that its board has initiated a share buyback plan on Wednesday, December 6th that permits the company to buyback 3,800,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in Fred's by 6.3% during the second quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock valued at $125,000 after acquiring an additional 804 shares during the period. GSA Capital Partners LLP purchased a new stake in Fred's during the third quarter valued at about $109,000. Voya Investment Management LLC grew its position in Fred's by 9.0% during the second quarter. Voya Investment Management LLC now owns 19,503 shares of the company’s stock valued at $180,000 after acquiring an additional 1,613 shares during the period. Jefferies Group LLC acquired a new position in shares of Fred's during the fourth quarter worth about $103,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Fred's by 153.0% during the third quarter. BNP Paribas Arbitrage SA now owns 26,225 shares of the company’s stock worth $169,000 after purchasing an additional 15,861 shares in the last quarter.

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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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