Family Dollar: S&P Intraday Laggard
The S&P 500 was ticking down less than 1%, or 8.91 points, to 1,323.
Shares of Family Dollar fell 3.54% to $66.68. The Matthews, N.C.-based dollar store chain reported Thursday third-quarter net income of $124.5 million, or $1.06 a share, up from year-earlier earnings of $111.1 million, or 91 cents a share.
Analysts, on average, were anticipating third-quarter profit of $1.07 a share.Family Dollar said Thursday that it expects fourth-quarter same-store sales to rise between 5% and 7% and it projects fourth-quarter earnings per share of between 71 cents and 81 cents a share. Analysts were expecting earnings of 77 cents a share for the fourth quarter. Family Dollar has an estimated price-to-earnings ratio for next year of 20.33 times; the average among its peers is 20.54. For comparison, Dollar Tree (DLTR) has a higher forward P/E of 25.23. Fourteen of the 27 analysts who cover Family Dollar rated it hold. Eleven analysts gave the stock a buy rating and two rated it sell. The stock has risen 15.56% year to date. -- Written by Alexandra Zendrian
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