Zacks: Analysts Expect Rite Aid Co. (RAD) Will Post Earnings of -$0.01 Per Share

Brokerages predict that Rite Aid Co. (NYSE:RAD) will announce earnings of ($0.01) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Rite Aid’s earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.02). The business is expected to announce its next quarterly earnings results on Wednesday, January 2nd.

On average, analysts expect that Rite Aid will report full-year earnings of ($0.01) per share for the current financial year, with EPS estimates ranging from ($0.02) to $0.00. For the next fiscal year, analysts anticipate that the company will post earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Rite Aid.

Rite Aid (NYSE:RAD) last announced its quarterly earnings results on Thursday, September 27th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Rite Aid had a net margin of 3.26% and a negative return on equity of 1.97%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share.

RAD has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Goldman Sachs Group initiated coverage on shares of Rite Aid in a research note on Thursday, September 6th. They set a “sell” rating and a $1.00 price target for the company. Cowen cut shares of Rite Aid from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $2.35 to $6.00 in a research note on Monday, August 13th. Mizuho restated a “hold” rating and set a $2.00 price target on shares of Rite Aid in a research note on Thursday, August 9th. Finally, TheStreet cut shares of Rite Aid from a “c-” rating to a “d” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company. Rite Aid presently has an average rating of “Hold” and a consensus price target of $2.16.

RAD traded up $0.01 during midday trading on Thursday, reaching $1.06. 567,682 shares of the company’s stock were exchanged, compared to its average volume of 17,979,234. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -53.00 and a beta of 1.66. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 2.41. Rite Aid has a one year low of $1.02 and a one year high of $2.55.

Several large investors have recently bought and sold shares of RAD. GSA Capital Partners LLP bought a new position in shares of Rite Aid in the second quarter valued at approximately $105,000. HRT Financial LLC acquired a new stake in shares of Rite Aid in the second quarter valued at approximately $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Rite Aid in the second quarter valued at approximately $108,000. Destination Wealth Management increased its holdings in shares of Rite Aid by 5,513.1% in the second quarter. Destination Wealth Management now owns 65,000 shares of the company’s stock valued at $112,000 after purchasing an additional 63,842 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Rite Aid in the second quarter valued at approximately $112,000. Institutional investors own 55.58% of the company’s stock.

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.

Featured Story: How much money do you need to begin day trading?

Get a free copy of the Zacks research report on Rite Aid (RAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply