Equities research analysts forecast that Rite Aid Co. (NYSE:RAD) will report earnings of ($0.01) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rite Aid’s earnings. Rite Aid also reported earnings per share of ($0.01) during the same quarter last year. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, September 27th.

On average, analysts expect that Rite Aid will report full year earnings of ($0.02) per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Rite Aid.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, June 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue was down .9% compared to the same quarter last year.

A number of research analysts have recently issued reports on RAD shares. Cowen reiterated a “buy” rating and set a $2.35 price target on shares of Rite Aid in a research note on Thursday, June 28th. TheStreet lowered shares of Rite Aid from a “c-” rating to a “d” rating in a research note on Wednesday, August 8th. Mizuho reiterated a “hold” rating and set a $2.00 price target on shares of Rite Aid in a research note on Thursday, August 9th. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Goldman Sachs Group started 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 on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $2.37.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its position in Rite Aid by 21.9% during the first quarter. Franklin Resources Inc. now owns 51,310,675 shares of the company’s stock worth $86,202,000 after buying an additional 9,213,475 shares during the period. BlackRock Inc. grew its position in Rite Aid by 1.9% during the first quarter. BlackRock Inc. now owns 43,767,426 shares of the company’s stock worth $73,529,000 after buying an additional 813,790 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in Rite Aid by 20.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 22,604,480 shares of the company’s stock worth $39,106,000 after buying an additional 3,797,936 shares during the period. Alpine Associates Management Inc. grew its position in Rite Aid by 35.0% during the second quarter. Alpine Associates Management Inc. now owns 13,514,200 shares of the company’s stock worth $22,840,000 after buying an additional 3,502,400 shares during the period. Finally, IndexIQ Advisors LLC grew its position in Rite Aid by 11.5% during the second quarter. IndexIQ Advisors LLC now owns 7,863,047 shares of the company’s stock worth $13,603,000 after buying an additional 812,530 shares during the period. Institutional investors own 55.60% of the company’s stock.

Shares of Rite Aid stock traded down $0.01 on Friday, reaching $1.33. 9,550,500 shares of the stock were exchanged, compared to its average volume of 18,539,516. Rite Aid has a 1-year low of $1.23 and a 1-year high of $2.80. The company has a quick ratio of 0.85, a current ratio of 1.49 and a debt-to-equity ratio of 1.75. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -66.45 and a beta of 1.83.

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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