-$0.70 EPS Expected for Rite Aid Co. (NYSE:RAD) This Quarter

Analysts forecast that Rite Aid Co. (NYSE:RADGet Rating) will announce earnings of ($0.70) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Rite Aid’s earnings, with the lowest EPS estimate coming in at ($0.78) and the highest estimate coming in at ($0.62). Rite Aid reported earnings per share of $0.38 during the same quarter last year, which would suggest a negative year over year growth rate of 284.2%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Rite Aid will report full year earnings of ($1.51) per share for the current fiscal year, with EPS estimates ranging from ($2.22) to ($0.79). For the next fiscal year, analysts forecast that the business will post earnings of ($1.55) per share, with EPS estimates ranging from ($3.07) to ($0.02). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Rite Aid.

Rite Aid (NYSE:RADGet Rating) last released its quarterly earnings results on Thursday, April 14th. The company reported ($1.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.06). Rite Aid had a negative return on equity of 19.38% and a negative net margin of 2.19%. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same quarter last year, the company earned ($0.78) earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis.

Several analysts have recently issued reports on RAD shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Rite Aid from $1.00 to $2.00 in a research report on Monday, April 18th. StockNews.com initiated coverage on shares of Rite Aid in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $10.75.

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP purchased a new position in Rite Aid in the third quarter worth approximately $13,425,000. Dimensional Fund Advisors LP lifted its position in shares of Rite Aid by 72.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,144 shares of the company’s stock worth $15,315,000 after purchasing an additional 733,923 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Rite Aid during the third quarter worth $6,733,000. BlackRock Inc. increased its holdings in Rite Aid by 8.7% in the third quarter. BlackRock Inc. now owns 4,797,390 shares of the company’s stock valued at $68,124,000 after buying an additional 385,629 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Rite Aid by 341.1% in the fourth quarter. Deutsche Bank AG now owns 428,277 shares of the company’s stock valued at $6,291,000 after buying an additional 331,185 shares in the last quarter. Hedge funds and other institutional investors own 65.68% of the company’s stock.

Shares of Rite Aid stock opened at $5.76 on Tuesday. The stock has a market capitalization of $320.53 million, a price-to-earnings ratio of -0.58 and a beta of 1.11. The company has a debt-to-equity ratio of 27.75, a current ratio of 1.18 and a quick ratio of 0.51. The business has a 50-day moving average of $7.85 and a 200 day moving average of $10.59. Rite Aid has a 12 month low of $5.02 and a 12 month high of $23.02.

Rite Aid Company Profile (Get Rating)

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and provides various other pharmacy services and an assortment of products comprising over-the-counter medications, health and beauty aids, personal care products, seasonal merchandise, cosmetics, household items, food and beverages, greeting cards, seasonal and general merchandise, pet care, and a variety of other everyday and convenience products, as well as brand and generic prescription drugs; and a private brand product line.

Recommended Stories

Get a free copy of the Zacks research report on Rite Aid (RAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.