Analysts forecast that Rite Aid Co. (NYSE:RAD) will post sales of $5.43 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Rite Aid’s earnings, with the highest sales estimate coming in at $5.45 billion and the lowest estimate coming in at $5.40 billion. Rite Aid reported sales of $5.45 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The firm is expected to report its next quarterly earnings report on Wednesday, December 18th.
According to Zacks, analysts expect that Rite Aid will report full year sales of $21.64 billion for the current year, with estimates ranging from $21.54 billion to $21.75 billion. For the next financial year, analysts forecast that the firm will post sales of $21.94 billion, with estimates ranging from $21.88 billion to $21.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Rite Aid.
Rite Aid (NYSE:RAD) last released its earnings results on Thursday, September 26th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.41 billion. Rite Aid had a negative net margin of 2.12% and a positive return on equity of 0.02%. The company’s quarterly revenue was down 1.0% on a year-over-year basis.
RAD has been the subject of a number of research analyst reports. Deutsche Bank initiated coverage on shares of Rite Aid in a research report on Thursday, September 12th. They set a “sell” rating and a $5.00 target price for the company. Evercore ISI reissued a “sell” rating on shares of Rite Aid in a research report on Monday, August 12th. Finally, ValuEngine lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.67.
Rite Aid stock traded down $0.51 on Thursday, reaching $9.84. 1,952,320 shares of the stock were exchanged, compared to its average volume of 2,007,276. The company has a quick ratio of 0.84, a current ratio of 1.53 and a debt-to-equity ratio of 6.87. Rite Aid has a twelve month low of $5.04 and a twelve month high of $27.20. The firm has a fifty day moving average price of $8.60 and a two-hundred day moving average price of $7.76.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Rite Aid during the third quarter valued at about $26,000. SG Americas Securities LLC raised its position in shares of Rite Aid by 30.8% during the third quarter. SG Americas Securities LLC now owns 52,804 shares of the company’s stock valued at $367,000 after buying an additional 12,437 shares during the last quarter. Creative Planning raised its position in shares of Rite Aid by 523.7% during the third 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 during the last quarter. California Public Employees Retirement System raised its position in shares of Rite Aid by 15.1% during the third quarter. California Public Employees Retirement System now owns 97,115 shares of the company’s stock valued at $675,000 after buying an additional 12,708 shares during the last quarter. Finally, Dupont Capital Management Corp raised its position in shares of Rite Aid by 59.6% during the third quarter. Dupont Capital Management Corp now owns 75,476 shares of the company’s stock valued at $525,000 after buying an additional 28,200 shares during the last quarter. 54.78% of the stock is owned by institutional investors and hedge funds.
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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