Wall Street analysts expect Rite Aid Co. (NYSE:RAD) to post earnings per share (EPS) of $0.03 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Rite Aid’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.08. Rite Aid reported earnings of $0.20 per share in the same quarter last year, which would indicate a negative year over year growth rate of 85%. The business is scheduled to announce its next quarterly earnings report on Wednesday, December 18th.
On average, analysts expect that Rite Aid will report full year earnings of ($0.06) per share for the current fiscal year, with EPS estimates ranging from ($0.23) to $0.12. For the next financial year, analysts forecast that the business will post earnings of $0.09 per share, with EPS estimates ranging from ($0.23) to $0.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Rite Aid.
Rite Aid (NYSE:RAD) last posted its earnings results on Thursday, September 26th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Rite Aid had a negative net margin of 2.12% and a positive return on equity of 0.02%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.41 billion. The company’s quarterly revenue was down 1.0% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank assumed coverage on shares of Rite Aid in a report on Thursday, September 12th. They issued a “sell” rating and a $5.00 target price on the stock. Evercore ISI restated a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. Finally, ValuEngine lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $11.67.
A number of hedge funds have recently modified their holdings of RAD. Morgan Stanley grew its position in Rite Aid by 81.7% in the 2nd quarter. Morgan Stanley now owns 1,978,559 shares of the company’s stock worth $15,847,000 after purchasing an additional 889,900 shares in the last quarter. KLS Diversified Asset Management LP bought a new stake in Rite Aid in the 2nd quarter worth about $4,114,000. A.R.T. Advisors LLC bought a new stake in Rite Aid in the 2nd quarter worth about $1,817,000. Cubist Systematic Strategies LLC bought a new stake in Rite Aid in the 2nd quarter worth about $1,295,000. Finally, Renaissance Technologies LLC bought a new stake in Rite Aid in the 2nd quarter worth about $986,000. 54.73% of the stock is owned by institutional investors and hedge funds.
Shares of RAD traded down $0.03 on Monday, reaching $8.89. The company’s stock had a trading volume of 2,643,924 shares, compared to its average volume of 1,986,116. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 6.87. Rite Aid has a twelve month low of $5.04 and a twelve month high of $27.20. The firm has a fifty day moving average of $7.83 and a 200-day moving average of $6.95.
Rite Aid Company Profile
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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