Analysts Expect Rite Aid Co. (NYSE:RAD) Will Announce Earnings of -$0.18 Per Share

Analysts expect Rite Aid Co. (NYSE:RAD) to announce ($0.18) earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Rite Aid’s earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.32). Rite Aid posted earnings of $0.40 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 145%. The company is scheduled to issue its next earnings report on Thursday, December 16th.

According to Zacks, analysts expect that Rite Aid will report full-year earnings of ($1.07) per share for the current financial year, with EPS estimates ranging from ($1.24) to ($0.90). For the next fiscal year, analysts expect that the company will report earnings of ($0.24) per share, with EPS estimates ranging from ($0.96) to $0.49. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Rite Aid.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, September 22nd. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Rite Aid had a negative net margin of 0.17% and a positive return on equity of 2.35%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.

Several analysts recently commented on RAD shares. Evercore ISI began coverage on shares of Rite Aid in a research report on Friday, September 24th. They issued a “sell” rating and a $11.00 price target for the company. Zacks Investment Research raised shares of Rite Aid from a “sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research note on Tuesday, August 24th. TheStreet cut shares of Rite Aid from a “c-” rating to a “d+” rating in a research note on Wednesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Rite Aid from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, October 20th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Rite Aid has an average rating of “Hold” and a consensus price target of $14.00.

Shares of NYSE:RAD traded down $0.55 during trading on Tuesday, hitting $13.58. 2,552,305 shares of the company were exchanged, compared to its average volume of 2,255,179. The firm’s 50 day moving average price is $15.83 and its 200-day moving average price is $17.10. Rite Aid has a 12-month low of $8.85 and a 12-month high of $32.48. The stock has a market capitalization of $757.37 million, a P/E ratio of -18.11 and a beta of 0.86. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.35 and a quick ratio of 0.67.

In other Rite Aid news, VP Jocelyn Z. Konrad sold 28,384 shares of the company’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $15.42, for a total value of $437,681.28. Following the transaction, the vice president now directly owns 95,065 shares in the company, valued at approximately $1,465,902.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.26% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. MBL Wealth LLC purchased a new position in Rite Aid in the 3rd quarter valued at about $1,164,000. SummerHaven Investment Management LLC lifted its holdings in shares of Rite Aid by 157.4% during the 3rd quarter. SummerHaven Investment Management LLC now owns 61,245 shares of the company’s stock worth $870,000 after acquiring an additional 37,453 shares during the period. Foundry Partners LLC lifted its holdings in shares of Rite Aid by 1,800.0% during the 3rd quarter. Foundry Partners LLC now owns 247,000 shares of the company’s stock worth $3,507,000 after acquiring an additional 234,000 shares during the period. Morgan Stanley lifted its holdings in shares of Rite Aid by 686.4% during the 2nd quarter. Morgan Stanley now owns 332,935 shares of the company’s stock worth $5,427,000 after acquiring an additional 290,599 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in shares of Rite Aid during the 2nd quarter worth about $36,000. Institutional investors own 56.03% of the company’s stock.

About Rite Aid

Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.

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