Equities research analysts expect Rite Aid Co. (NYSE:RAD) to report earnings of ($0.35) per share for the current quarter, according to Zacks. Two analysts have made estimates for Rite Aid’s earnings, with the lowest EPS estimate coming in at ($0.40) and the highest estimate coming in at ($0.29). Rite Aid posted earnings per share of ($0.78) during the same quarter last year, which indicates a positive year-over-year growth rate of 55.1%. The business is expected to issue its next quarterly earnings results on Thursday, April 21st.
On average, analysts expect that Rite Aid will report full-year earnings of ($0.76) per share for the current year, with EPS estimates ranging from ($1.24) to ($0.27). For the next financial year, analysts expect that the company will report earnings of $0.02 per share, with EPS estimates ranging from ($0.49) to $0.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Rite Aid.
Rite Aid (NYSE:RAD) last issued its earnings results on Tuesday, December 21st. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.33. Rite Aid had a negative return on equity of 6.31% and a negative net margin of 0.69%. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year.
A number of brokerages have commented on RAD. Evercore ISI initiated coverage on Rite Aid in a research note on Friday, September 24th. They issued a “sell” rating and a $11.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Rite Aid from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Wednesday, October 20th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.00.
In other news, CEO Heyward R. Donigan acquired 14,350 shares of Rite Aid stock in a transaction dated Wednesday, December 22nd. The shares were bought at an average cost of $13.93 per share, with a total value of $199,895.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.26% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in Rite Aid in the 2nd quarter worth about $33,000. Maverick Capital Ltd. purchased a new position in shares of Rite Aid during the second quarter valued at $36,000. Keebeck Alpha LP bought a new stake in Rite Aid during the second quarter valued at about $188,000. Royal Bank of Canada raised its stake in shares of Rite Aid by 48.1% in the third quarter. Royal Bank of Canada now owns 14,842 shares of the company’s stock worth $210,000 after purchasing an additional 4,823 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Rite Aid by 28.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,065 shares of the company’s stock valued at $213,000 after acquiring an additional 2,923 shares in the last quarter. 55.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE RAD traded up $0.11 during midday trading on Friday, reaching $13.96. 2,734,396 shares of the company’s stock were exchanged, compared to its average volume of 2,247,302. Rite Aid has a 52-week low of $11.50 and a 52-week high of $32.48. The stock has a market capitalization of $778.56 million, a PE ratio of -4.49 and a beta of 0.86. The company has a debt-to-equity ratio of 6.74, a quick ratio of 0.70 and a current ratio of 1.38. The business’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $15.31.
About Rite Aid
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.