Brokerages Expect Rite Aid Co. (NYSE:RAD) Will Post Earnings of $0.03 Per Share

Brokerages expect Rite Aid Co. (NYSE:RAD) to post earnings per share of $0.03 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Rite Aid’s earnings. The highest EPS estimate is $0.08 and the lowest is ($0.03). Rite Aid posted earnings per share of $0.20 during the same quarter last year, which indicates a negative year-over-year growth rate of 85%. The company is scheduled to report its next earnings report on Wednesday, December 18th.

On average, analysts expect that Rite Aid will report full-year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.23) to $0.12. For the next fiscal year, analysts anticipate that the business will report earnings of $0.09 per share, with EPS estimates ranging from ($0.23) to $0.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Rite Aid.

Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Rite Aid had a negative net margin of 2.12% and a positive return on equity of 0.02%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Rite Aid’s revenue was down 1.0% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank assumed coverage on shares of Rite Aid in a report on Thursday, September 12th. They issued a “sell” rating and a $5.00 target price for the company. ValuEngine lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI restated a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.67.

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Rite Aid by 1.9% in the 2nd quarter. Invesco Ltd. now owns 2,626,062 shares of the company’s stock worth $21,035,000 after acquiring an additional 48,326 shares during the last quarter. Morgan Stanley lifted its holdings in Rite Aid by 81.7% during the 2nd quarter. Morgan Stanley now owns 1,978,559 shares of the company’s stock valued at $15,847,000 after buying an additional 889,900 shares in the last quarter. State Street Corp lifted its holdings in Rite Aid by 1.7% during the 3rd quarter. State Street Corp now owns 1,640,953 shares of the company’s stock valued at $11,405,000 after buying an additional 26,712 shares in the last quarter. Creative Planning lifted its holdings in Rite Aid by 523.7% during the 3rd quarter. Creative Planning now owns 638,816 shares of the company’s stock valued at $4,440,000 after buying an additional 536,390 shares in the last quarter. Finally, KLS Diversified Asset Management LP bought a new stake in Rite Aid during the 2nd quarter valued at about $4,114,000. Hedge funds and other institutional investors own 47.99% of the company’s stock.

Rite Aid stock opened at $9.06 on Thursday. The firm has a 50-day moving average price of $9.46 and a 200-day moving average price of $7.88. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.84 and a current ratio of 1.53. Rite Aid has a 12-month low of $5.04 and a 12-month high of $23.10.

Rite Aid Company Profile

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

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