Fred's (FRED) Releases Earnings Results, Beats Expectations By $0.02 EPS

Fred's (FRED) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.02. The company posted revenue of $549.50 million in the period, compared to analysts expectations of $563.24 million. The company’s revenue was up 8.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on Fred's. Company shares were Reiterated by MKM Partners on Mar 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 14 from a previous price target of $13 .Company shares were Reiterated by Deutsche Bank on Mar 10, 2016 to “Hold”, Firm has raised the Price Target to $ 14 from a previous price target of $11 .

Fred's opened for trading at $13.46 and hit $14.02 on the upside on Wednesday, eventually ending the session at $13.78, with a gain of 1.85% or 0.25 points. The heightened volatility saw the trading volume jump to 1,29,229 shares. Company has a market cap of $513 M.

In a different news, on Dec 8, 2015, Michael Hayes (director) sold 5,000 shares at $16.25 per share price. According to the SEC, on Dec 1, 2015, Shannon Strickland (SVP) sold 38 shares at $16.43 per share price. On Aug 31, 2015, Michael K Bloom (President) purchased 2,000 shares at $13.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Fred’s Inc. (Fred’s) is an operator of general merchandise stores. The Company operates approximately 660 discount general merchandise stores including around 19 franchised Fred’s stores in 15 states in the southeastern United States. The Company has around 370 full service pharmacies in its stores. The Company offers different product categories including consumables such as tobacco food and beverage prescription pharmaceuticals paper and cleaning supplies pet supplies health and beauty aids and discretionary products such as home decor seasonal merchandise auto and hardware and lawn and garden. Fred’s Xpress stores offer pharmacy services along with a scaled-down convenience centered general merchandise area. The Company’s Xpress stores typically sell primarily pharmaceuticals other health and beauty related items and general merchandise offerings mainly consumables. The Company also has a specialty pharmacy facility EIRIS Health Services.


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