Zacks: Brokerages Anticipate Rite Aid Co. (NYSE:RAD) to Announce -$0.70 Earnings Per Share

Equities analysts expect Rite Aid Co. (NYSE:RADGet Rating) to report ($0.70) earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Rite Aid’s earnings. The highest EPS estimate is ($0.62) and the lowest is ($0.78). Rite Aid posted earnings of $0.38 per share during the same quarter last year, which suggests a negative year over year growth rate of 284.2%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Rite Aid will report full year earnings of ($1.51) per share for the current year, with EPS estimates ranging from ($2.22) to ($0.79). For the next fiscal year, analysts anticipate that the company 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 calculations are an average based on a survey of sell-side research firms that cover Rite Aid.

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

RAD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Rite Aid from $1.00 to $2.00 in a research note on Monday, April 18th. StockNews.com started coverage on shares of Rite Aid in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Sell” and a consensus price target of $10.75.

Large investors have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Rite Aid in the 4th quarter valued at about $32,000. National Bank of Canada FI boosted its holdings in shares of Rite Aid by 59.4% in the 1st quarter. National Bank of Canada FI now owns 4,160 shares of the company’s stock valued at $36,000 after buying an additional 1,550 shares in the last quarter. Ahrens Investment Partners LLC bought a new stake in shares of Rite Aid in the 4th quarter valued at about $46,000. Gladius Capital Management LP bought a new stake in shares of Rite Aid in the 4th quarter valued at about $72,000. Finally, Raymond James & Associates bought a new stake in shares of Rite Aid in the 1st quarter valued at about $100,000. Institutional investors and hedge funds own 65.68% of the company’s stock.

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

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.

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