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 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.
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