-$0.42 EPS Expected for Rite Aid Co. (NYSE:RAD) This Quarter

Wall Street brokerages expect that Rite Aid Co. (NYSE:RAD) will announce earnings of ($0.42) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Rite Aid’s earnings. The highest EPS estimate is ($0.33) and the lowest is ($0.51). Rite Aid posted earnings of $0.25 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 268%. The business is expected to announce its next earnings report on Thursday, September 23rd.

On average, analysts expect that Rite Aid will report full year earnings of ($0.80) per share for the current financial year, with EPS estimates ranging from ($0.83) to ($0.76). For the next year, analysts forecast that the business will report earnings of ($0.23) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Rite Aid.

Rite Aid (NYSE:RAD) last released its quarterly earnings results on Wednesday, June 23rd. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.16. Rite Aid had a positive return on equity of 2.35% and a negative net margin of 0.17%. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year.

RAD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Rite Aid from $27.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, June 22nd. JPMorgan Chase & Co. lowered Rite Aid from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $21.00 to $12.00 in a research note on Friday, June 25th. Finally, Zacks Investment Research lowered Rite Aid from a “hold” rating to a “sell” rating and set a $22.00 target price for the company. in a research note on Tuesday, June 22nd. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Rite Aid currently has an average rating of “Sell” and a consensus target price of $14.50.

A number of large investors have recently made changes to their positions in RAD. International Assets Investment Management LLC increased its stake in Rite Aid by 100.0% during the first quarter. International Assets Investment Management LLC now owns 1,484 shares of the company’s stock worth $27,000 after acquiring an additional 742 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in Rite Aid during the first quarter worth about $31,000. Meeder Asset Management Inc. acquired a new stake in Rite Aid during the first quarter worth about $40,000. Captrust Financial Advisors increased its stake in Rite Aid by 5,749.2% during the fourth quarter. Captrust Financial Advisors now owns 3,802 shares of the company’s stock worth $60,000 after acquiring an additional 3,737 shares during the last quarter. Finally, Allred Capital Management LLC purchased a new stake in shares of Rite Aid in the first quarter worth about $65,000. Institutional investors own 57.93% of the company’s stock.

Shares of NYSE RAD traded down $0.77 during trading on Thursday, reaching $14.99. The company had a trading volume of 40,451 shares, compared to its average volume of 3,846,031. Rite Aid has a twelve month low of $8.85 and a twelve month high of $32.48. The stock has a market capitalization of $825.80 million, a PE ratio of -20.05 and a beta of 0.82. The business’s 50-day simple moving average is $18.12. The company has a quick ratio of 0.67, a current ratio of 1.35 and a debt-to-equity ratio of 5.02.

Rite Aid Company Profile

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 an assortment 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, pet care, and other every day and convenience products, as well as brand and generic prescription drugs.

Featured Story: FTSE 100 Index

Get a free copy of the Zacks research report on Rite Aid (RAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.