$5.75 Billion in Sales Expected for Rite Aid Co. (NYSE:RAD) This Quarter

Equities analysts predict that Rite Aid Co. (NYSE:RADGet Rating) will post sales of $5.75 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Rite Aid’s earnings, with the highest sales estimate coming in at $5.81 billion and the lowest estimate coming in at $5.69 billion. Rite Aid posted sales of $6.16 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.7%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Rite Aid will report full year sales of $22.98 billion for the current financial year, with estimates ranging from $22.75 billion to $23.21 billion. For the next fiscal year, analysts expect that the business will report sales of $23.41 billion, with estimates ranging from $23.38 billion to $23.45 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Rite Aid.

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

Several brokerages have recently commented on RAD. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Rite Aid from $1.00 to $2.00 in a research report on Monday, April 18th. StockNews.com began coverage on shares of Rite Aid in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Sell” and an average target price of $10.75.

Institutional investors and hedge funds have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new position in shares of Rite Aid in the 4th quarter valued at $32,000. National Bank of Canada FI raised its position in Rite Aid by 59.4% in the first quarter. National Bank of Canada FI now owns 4,160 shares of the company’s stock valued at $36,000 after purchasing an additional 1,550 shares during the last quarter. Ahrens Investment Partners LLC acquired a new stake in shares of Rite Aid during the fourth quarter valued at about $46,000. Gladius Capital Management LP bought a new stake in shares of Rite Aid during the fourth quarter worth about $72,000. Finally, Raymond James & Associates acquired a new position in shares of Rite Aid in the first quarter valued at approximately $100,000. Institutional investors own 65.68% of the company’s stock.

RAD stock opened at $5.59 on Thursday. Rite Aid has a 52 week low of $5.02 and a 52 week high of $23.02. The business has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $10.56. The company has a quick ratio of 0.51, a current ratio of 1.18 and a debt-to-equity ratio of 27.75. The company has a market cap of $311.07 million, a PE ratio of -0.56 and a beta of 1.11.

About Rite Aid (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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$5.75 Billion in Sales Expected for Rite Aid Co. (NYSE:RAD) This Quarter

Wall Street analysts forecast that Rite Aid Co. (NYSE:RADGet Rating) will post $5.75 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Rite Aid’s earnings. The lowest sales estimate is $5.69 billion and the highest is $5.81 billion. Rite Aid reported sales of $6.16 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.7%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Rite Aid will report full year sales of $22.98 billion for the current year, with estimates ranging from $22.75 billion to $23.21 billion. For the next fiscal year, analysts forecast that the business will post sales of $23.41 billion, with estimates ranging from $23.38 billion to $23.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Rite Aid.

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

RAD has been the topic of several 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 began coverage on shares of Rite Aid in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and an average price target of $10.75.

A number of large investors have recently added to or reduced their stakes in RAD. Counterpoint Mutual Funds LLC bought a new stake in Rite Aid in the fourth quarter worth about $32,000. National Bank of Canada FI acquired a new stake in shares of Rite Aid during the 4th quarter valued at $38,000. Ahrens Investment Partners LLC acquired a new position in shares of Rite Aid in the 4th quarter worth $46,000. Gladius Capital Management LP acquired a new stake in shares of Rite Aid during the fourth quarter worth $72,000. Finally, Teacher Retirement System of Texas purchased a new position in Rite Aid in the 4th quarter worth about $160,000. 65.68% of the stock is currently owned by hedge funds and other institutional investors.

RAD stock opened at $5.59 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.18 and a debt-to-equity ratio of 27.75. The firm’s 50-day simple moving average is $7.78 and its 200 day simple moving average is $10.56. The stock has a market cap of $311.07 million, a PE ratio of -0.56 and a beta of 1.11. Rite Aid has a fifty-two week low of $5.02 and a fifty-two week 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.

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