Rite Aid Co. (NYSE:RAD) Expected to Post Earnings of -$0.31 Per Share

Brokerages expect that Rite Aid Co. (NYSE:RAD) will announce ($0.31) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Rite Aid’s earnings. The highest EPS estimate is ($0.29) and the lowest is ($0.32). Rite Aid posted earnings per share of $0.40 in the same quarter last year, which would indicate a negative year over year growth rate of 177.5%. The company is expected to report its next earnings report on Thursday, December 16th.

On average, analysts expect that Rite Aid will report full year earnings of ($0.83) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.76). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.96) to ($0.23). Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Rite Aid.

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

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Rite Aid from $27.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, June 22nd. Evercore ISI assumed coverage on Rite Aid in a report on Friday, September 24th. They set a “sell” rating and a $11.00 price target for the company. TheStreet lowered Rite Aid from a “c-” rating to a “d+” rating in a report on Wednesday, July 21st. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Tuesday, August 24th. Finally, JPMorgan Chase & Co. lowered Rite Aid from a “neutral” rating to an “underweight” rating and cut their price target for the company from $21.00 to $12.00 in a report on Friday, June 25th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.75.

In other news, VP Jocelyn Z. Konrad sold 28,384 shares of the company’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $15.42, for a total value of $437,681.28. Following the completion of the transaction, the vice president now owns 95,065 shares of the company’s stock, valued at $1,465,902.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.26% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAD. Renaissance Technologies LLC boosted its stake in shares of Rite Aid by 625.8% in the first quarter. Renaissance Technologies LLC now owns 1,696,785 shares of the company’s stock worth $34,716,000 after acquiring an additional 1,462,995 shares during the period. BlackRock Inc. boosted its stake in Rite Aid by 18.8% during the first quarter. BlackRock Inc. now owns 5,005,045 shares of the company’s stock valued at $102,402,000 after buying an additional 793,118 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Rite Aid by 179.8% during the second quarter. JPMorgan Chase & Co. now owns 1,131,380 shares of the company’s stock valued at $18,442,000 after buying an additional 726,997 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Rite Aid by 77.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,601,602 shares of the company’s stock valued at $26,106,000 after purchasing an additional 700,049 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Rite Aid during the first quarter valued at approximately $9,373,000. 56.03% of the stock is owned by hedge funds and other institutional investors.

NYSE:RAD traded up $0.34 during mid-day trading on Thursday, hitting $14.42. 79,229 shares of the company traded hands, compared to its average volume of 2,280,657. The stock’s fifty day moving average price is $15.87 and its 200-day moving average price is $17.28. Rite Aid has a one year low of $8.85 and a one year high of $32.48. The company has a quick ratio of 0.67, a current ratio of 1.35 and a debt-to-equity ratio of 5.02. The firm has a market cap of $804.22 million, a price-to-earnings ratio of -18.77 and a beta of 0.86.

Rite Aid Company Profile

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.

Read More: Hold Rating

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