Brokerages Anticipate Rite Aid Co. (NYSE:RAD) to Announce -$0.13 Earnings Per Share

Analysts forecast that Rite Aid Co. (NYSE:RAD) will announce earnings per share of ($0.13) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Rite Aid’s earnings. The highest EPS estimate is ($0.06) and the lowest is ($0.20). Rite Aid posted earnings of ($0.20) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 35%. The firm is expected to report its next quarterly earnings report on Thursday, April 9th.

On average, analysts expect that Rite Aid will report full year earnings of $0.40 per share for the current fiscal year, with EPS estimates ranging from $0.32 to $0.47. For the next fiscal year, analysts anticipate that the company will post earnings of $0.31 per share, with EPS estimates ranging from ($0.02) to $0.63. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Rite Aid.

RAD has been the subject of a number of analyst reports. Deutsche Bank boosted their price target on Rite Aid from $5.00 to $12.00 and gave the stock a “sell” rating in a research report on Monday, December 23rd. Zacks Investment Research raised 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. Guggenheim raised Rite Aid from a “sell” rating to a “neutral” rating in a research report on Thursday, February 27th. Finally, ValuEngine raised Rite Aid from a “strong sell” rating to a “sell” rating in a research report on Friday, March 13th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Shares of NYSE:RAD traded down $0.36 on Friday, reaching $14.11. The company had a trading volume of 4,496,807 shares, compared to its average volume of 6,469,250. Rite Aid has a twelve month low of $5.04 and a twelve month high of $23.88. The stock has a 50-day moving average price of $14.79 and a 200 day moving average price of $11.41. The stock has a market capitalization of $800.37 million, a P/E ratio of -1.85 and a beta of 1.52. The company has a quick ratio of 0.78, a current ratio of 1.46 and a debt-to-equity ratio of 6.22.

Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can bought a new position in shares of Rite Aid in the fourth quarter worth about $47,000. Allred Capital Management LLC bought a new position in shares of Rite Aid in the fourth quarter worth about $50,000. Jacobi Capital Management LLC increased its stake in shares of Rite Aid by 198.4% in the fourth quarter. Jacobi Capital Management LLC now owns 3,760 shares of the company’s stock worth $58,000 after purchasing an additional 2,500 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Rite Aid in the third quarter worth about $26,000. Finally, Johanson Financial Advisors Inc. bought a new position in shares of Rite Aid in the fourth quarter worth about $258,000. Institutional investors and hedge funds 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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