Wall Street brokerages expect Rite Aid Co. (NYSE:RAD) to announce $5.43 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Rite Aid’s earnings, with the lowest sales estimate coming in at $5.40 billion and the highest estimate coming in at $5.45 billion. Rite Aid reported sales of $5.45 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The business is expected to report its next earnings report on Wednesday, December 18th.
According to Zacks, analysts expect that Rite Aid will report full-year sales of $21.64 billion for the current fiscal year, with estimates ranging from $21.54 billion to $21.75 billion. For the next fiscal year, analysts forecast that the company will post sales of $21.94 billion, with estimates ranging from $21.88 billion to $21.99 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Rite Aid.
Rite Aid (NYSE:RAD) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Rite Aid had a negative net margin of 2.12% and a positive return on equity of 0.02%. The firm’s revenue was down 1.0% compared to the same quarter last year.
A number of analysts recently commented on RAD shares. ValuEngine cut shares of Rite Aid from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Evercore ISI restated a “sell” rating on shares of Rite Aid in a research note on Monday, August 12th. Finally, Deutsche Bank started coverage on shares of Rite Aid in a research note on Thursday, September 12th. They set a “sell” rating and a $5.00 price target on the stock. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $11.67.
Hedge funds have recently made changes to their positions in the stock. Parallax Volatility Advisers L.P. purchased a new stake in shares of Rite Aid during the 2nd quarter valued at approximately $66,000. Point72 Hong Kong Ltd purchased a new stake in Rite Aid in the 2nd quarter worth approximately $67,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Rite Aid in the 2nd quarter worth approximately $90,000. HBK Sorce Advisory LLC lifted its stake in Rite Aid by 77.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 18,825 shares of the company’s stock worth $141,000 after purchasing an additional 8,220 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Rite Aid by 53.3% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 23,151 shares of the company’s stock worth $161,000 after purchasing an additional 8,050 shares in the last quarter. Institutional investors own 54.73% of the company’s stock.
Shares of RAD stock traded down $0.03 during trading on Wednesday, reaching $8.89. 2,643,924 shares of the company’s stock traded hands, compared to its average volume of 1,986,116. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.84 and a current ratio of 1.53. The firm’s 50-day moving average is $7.83 and its 200 day moving average is $6.95. Rite Aid has a 1 year low of $5.04 and a 1 year high of $27.20.
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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