Rite Aid Co. (NYSE:RAD) Expected to Announce Earnings of -$0.70 Per Share

Posted by on Jun 7th, 2022

Equities analysts expect Rite Aid Co. (NYSE:RAD – Get Rating) to announce ($0.70) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rite Aid’s earnings, with estimates ranging from ($0.78) to ($0.62). Rite Aid reported earnings of $0.38 per share in the same quarter last year, which would indicate a negative year over year growth rate of 284.2%. The firm is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Rite Aid will report full year earnings of ($1.51) per share for the current fiscal year, with EPS estimates ranging from ($2.22) to ($0.79). For the next year, analysts forecast that the company will post earnings of ($1.55) per share, with EPS estimates ranging from ($3.07) to ($0.02). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Rite Aid.

Rite Aid (NYSE:RAD – Get Rating) last released 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). 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 during the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter in the prior year, the company posted ($0.78) EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year.

Several brokerages have issued reports on RAD. StockNews.com began coverage on Rite Aid in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Rite Aid from $2.00 to $4.00 in a report on Friday. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, Rite Aid presently has a consensus rating of “Sell” and an average price target of $11.25.

Hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its position in Rite Aid by 686.4% during the second quarter. Morgan Stanley now owns 332,935 shares of the company’s stock valued at $5,427,000 after purchasing an additional 290,599 shares during the last quarter. BlackRock Inc. boosted its position in Rite Aid by 8.7% during the third quarter. BlackRock Inc. now owns 4,797,390 shares of the company’s stock valued at $68,124,000 after purchasing an additional 385,629 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Rite Aid during the third quarter valued at approximately $1,419,000. Trexquant Investment LP acquired a new position in Rite Aid during the third quarter valued at approximately $1,003,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in Rite Aid by 30.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 99,874 shares of the company’s stock valued at $1,418,000 after purchasing an additional 23,032 shares during the last quarter. 65.68% of the stock is owned by institutional investors.

Shares of Rite Aid stock traded up $0.27 during trading hours on Monday, hitting $6.36. The company’s stock had a trading volume of 2,547,884 shares, compared to its average volume of 3,450,575. Rite Aid has a 12 month low of $4.68 and a 12 month high of $23.02. The stock has a 50 day moving average of $6.73 and a 200 day moving average of $9.71. The company has a market capitalization of $353.91 million, a PE ratio of -0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 27.75, a current ratio of 1.18 and a quick ratio of 0.51.

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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