Family Dollar Stores, Inc. (FDO) is trading near a 52-week high on bullish earnings forecasts and an outstanding quarter. The company also recently declared a quarterly dividend of $0.135 per share.

Company Description

Family Dollar is a discount retail chain operator in the United States. Family Dollar offers a core assortment of name-brand and quality consumable merchandise supplemented by fashion and seasonal merchandise. A Fortune 500 company that is based in Matthews, North Carolina, FDO operates more than 6,500 stores in 44 states.

Solid Income

The company recently declared a quarterly dividend of $0.135 per share, noting that it is payable July 15 to shareholders of record at the close of business on June 15. FDO’s dividend yield of 1.6% is well ahead of the industry average.

Outstanding Quarterly Results

Family Dollar recently posted fiscal second-quarter earnings of 60 cents per share, beating the previous year’s 45 cents and matching the consensus estimate.

“While the current environment has resulted in more budget-minded consumers, our strong performance is also the result of significant investments we have made to enhance the Family Dollar shopping experience. Our multi-year focus on building and retaining great employee teams, improving merchandise quality, and enhancing the shopability of our stores has positioned us well to serve our core customers better while also satisfying new customers who may be visiting our stores for the first time,” continued Levine. “We have made significant progress to improve our relevancy to the customer, and we will continue to invest to make Family Dollar a more compelling place to shop, work and invest.”

Rising Forecasts

The company has been trading ahead of the broader market on stellar earnings and higher estimates. Eleven out of 16 covering analysts are calling for earnings of $1.89 per share for the fiscal year ending August 2009, versus last month’s projections of $1.87. Ten of the analysts further hiked forecasts to $1.96 per share in the just the past week.

Zacks Investment Research
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