$5.66 Billion in Sales Expected for Rite Aid Co. (NYSE:RAD) This Quarter

Equities research analysts expect Rite Aid Co. (NYSE:RAD) to announce sales of $5.66 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Rite Aid’s earnings, with estimates ranging from $5.62 billion to $5.70 billion. Rite Aid reported sales of $5.38 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.2%. The firm is expected to report its next quarterly earnings results on Thursday, April 9th.

According to Zacks, analysts expect that Rite Aid will report full-year sales of $21.86 billion for the current financial year, with estimates ranging from $21.82 billion to $21.90 billion. For the next year, analysts expect that the business will post sales of $22.58 billion, with estimates ranging from $22.45 billion to $22.72 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Rite Aid.

Several equities research analysts have recently commented on RAD shares. Deutsche Bank upped their price target on shares of Rite Aid from $5.00 to $12.00 and gave the company a “sell” rating in a research report on Monday, December 23rd. ValuEngine raised shares of Rite Aid from a “strong sell” rating to a “sell” rating in a research report on Friday, March 13th. Guggenheim raised shares of Rite Aid from a “sell” rating to a “neutral” rating in a research report on Thursday, February 27th. Finally, Zacks Investment Research raised shares of Rite Aid from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Wednesday, March 11th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.00.

Shares of NYSE RAD traded down $0.36 during midday trading on Monday, hitting $14.11. 4,496,807 shares of the company’s stock traded hands, compared to its average volume of 6,469,250. Rite Aid has a 1 year low of $5.04 and a 1 year high of $23.88. The stock has a market capitalization of $800.37 million, a price-to-earnings ratio of -1.85 and a beta of 1.52. The company has a debt-to-equity ratio of 6.22, a quick ratio of 0.78 and a current ratio of 1.46. The firm has a fifty day moving average of $14.79 and a 200 day moving average of $11.41.

Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of Rite Aid by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,486 shares of the company’s stock valued at $85,000 after acquiring an additional 1,000 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Rite Aid by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 270,997 shares of the company’s stock valued at $4,193,000 after acquiring an additional 2,158 shares during the period. World Asset Management Inc grew its stake in shares of Rite Aid by 17.2% during the 4th quarter. World Asset Management Inc now owns 15,610 shares of the company’s stock valued at $241,000 after acquiring an additional 2,294 shares during the period. Rhumbline Advisers grew its stake in shares of Rite Aid by 2.6% during the 4th quarter. Rhumbline Advisers now owns 91,967 shares of the company’s stock valued at $1,423,000 after acquiring an additional 2,350 shares during the period. Finally, Credit Suisse AG grew its stake in shares of Rite Aid by 4.1% during the 4th quarter. Credit Suisse AG now owns 60,643 shares of the company’s stock valued at $939,000 after acquiring an additional 2,386 shares during the period. Institutional investors own 46.82% of the company’s stock.

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, and other every day and convenience products.

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