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

Brokerages expect Rite Aid Co. (NYSE:RAD) to report $0.03 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rite Aid’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.08. Rite Aid posted earnings of $0.20 per share during the same quarter last year, which indicates a negative year over year growth rate of 85%. The firm 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 fiscal year, with EPS estimates ranging from ($0.23) to $0.12. For the next year, analysts anticipate that the company 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 averages are a mean average based on a survey of research analysts that follow Rite Aid.

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

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

NYSE:RAD opened at $8.81 on Thursday. The firm’s fifty day moving average price is $9.46 and its two-hundred day moving average price is $7.89. Rite Aid has a one year low of $5.04 and a one year high of $23.00. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 6.87.

Several large investors have recently bought and sold shares of RAD. Invesco Ltd. grew its position in 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 purchasing an additional 48,326 shares in the last quarter. Morgan Stanley grew its stake in Rite Aid by 81.7% in the 2nd quarter. Morgan Stanley now owns 1,978,559 shares of the company’s stock valued at $15,847,000 after purchasing an additional 889,900 shares during the period. State Street Corp increased its position in shares of 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 purchasing an additional 26,712 shares during the last quarter. Creative Planning increased its position in shares of 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 purchasing an additional 536,390 shares during the last quarter. Finally, KLS Diversified Asset Management LP bought a new stake in shares of Rite Aid during the 2nd quarter worth $4,114,000. 47.99% of the stock is owned by institutional investors.

About Rite Aid

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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