Rite Aid Co. (RAD) Expected to Post Earnings of -$0.02 Per Share

Wall Street analysts forecast that Rite Aid Co. (NYSE:RAD) will post earnings of ($0.02) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Rite Aid’s earnings. Rite Aid posted earnings of $0.02 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 200%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, January 3rd.

On average, analysts expect that Rite Aid will report full-year earnings of ($0.10) per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of $0.04 per share, with EPS estimates ranging from $0.03 to $0.04. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Rite Aid.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Rite Aid had a negative return on equity of 7.51% and a net margin of 0.28%. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter in the previous year, the firm earned $0.03 EPS. Rite Aid’s revenue was down 4.4% on a year-over-year basis.

A number of equities analysts have recently commented on RAD shares. Mizuho set a $2.00 price target on Rite Aid and gave the stock a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research raised Rite Aid from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Deutsche Bank initiated coverage on Rite Aid in a report on Monday, December 4th. They set a “hold” rating and a $2.25 price target for the company. Loop Capital initiated coverage on Rite Aid in a report on Monday, September 11th. They issued a “hold” rating and a $2.50 target price for the company. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Rite Aid in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.25.

Rite Aid (NYSE:RAD) traded down $0.01 during trading on Friday, hitting $2.01. The stock had a trading volume of 15,385,340 shares, compared to its average volume of 27,473,477. The company has a debt-to-equity ratio of 9.71, a current ratio of 1.74 and a quick ratio of 0.77. Rite Aid has a 12 month low of $1.38 and a 12 month high of $8.77. The firm has a market cap of $2,150.00, a PE ratio of 25.13 and a beta of 1.80.

In other Rite Aid news, Director Myrtle S. Potter sold 28,189 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total value of $58,915.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.29% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Geneva Advisors LLC increased its stake in shares of Rite Aid by 6.5% in the second quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock valued at $127,000 after buying an additional 2,616 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Rite Aid by 8.1% in the second quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock valued at $115,000 after buying an additional 2,900 shares during the period. Comerica Bank increased its stake in shares of Rite Aid by 9.2% in the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after buying an additional 3,753 shares during the period. Mark Sheptoff Financial Planning LLC increased its stake in shares of Rite Aid by 1.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 314,155 shares of the company’s stock valued at $927,000 after buying an additional 4,199 shares during the period. Finally, Utah Retirement Systems increased its stake in shares of Rite Aid by 2.6% in the second quarter. Utah Retirement Systems now owns 192,500 shares of the company’s stock valued at $568,000 after buying an additional 4,800 shares during the period. 50.72% of the stock is owned by institutional investors.

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About Rite Aid

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

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Earnings History and Estimates for Rite Aid (NYSE:RAD)

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