Rite Aid Co. (NYSE:RAD) Expected to Post Quarterly Sales of $5.43 Billion

Equities research analysts expect Rite Aid Co. (NYSE:RAD) to announce sales of $5.43 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Rite Aid’s earnings, with estimates ranging from $5.40 billion to $5.45 billion. Rite Aid reported sales of $5.45 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.4%. The firm is expected to report its next quarterly earnings results on Wednesday, December 18th.

According to Zacks, analysts expect that Rite Aid will report full-year sales of $21.64 billion for the current financial year, with estimates ranging from $21.54 billion to $21.75 billion. For the next year, analysts expect that the business will post sales of $21.94 billion, with estimates ranging from $21.88 billion to $21.99 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Rite Aid.

Rite Aid (NYSE:RAD) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Rite Aid had a negative net margin of 2.12% and a positive return on equity of 0.02%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.41 billion. The business’s revenue was down 1.0% on a year-over-year basis.

Several brokerages have recently commented on RAD. ValuEngine downgraded shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Evercore ISI reiterated a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. Finally, Deutsche Bank began coverage on shares of Rite Aid in a report on Thursday, September 12th. They issued a “sell” rating and a $5.00 target price for the company. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.67.

Shares of RAD stock traded down $0.51 on Thursday, hitting $9.84. The stock had a trading volume of 1,952,320 shares, compared to its average volume of 2,007,276. The business has a 50 day moving average of $8.60 and a 200 day moving average of $7.76. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.84 and a current ratio of 1.53. Rite Aid has a 12-month low of $5.04 and a 12-month high of $27.20.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in Rite Aid during the third quarter valued at about $26,000. SG Americas Securities LLC grew its position in Rite Aid by 30.8% during the third quarter. SG Americas Securities LLC now owns 52,804 shares of the company’s stock valued at $367,000 after buying an additional 12,437 shares during the period. Creative Planning grew its position in Rite Aid by 523.7% during the third quarter. Creative Planning now owns 638,816 shares of the company’s stock valued at $4,440,000 after buying an additional 536,390 shares during the period. California Public Employees Retirement System grew its position in Rite Aid by 15.1% during the third quarter. California Public Employees Retirement System now owns 97,115 shares of the company’s stock valued at $675,000 after buying an additional 12,708 shares during the period. Finally, Dupont Capital Management Corp grew its position in Rite Aid by 59.6% during the third quarter. Dupont Capital Management Corp now owns 75,476 shares of the company’s stock valued at $525,000 after buying an additional 28,200 shares during the period. Institutional investors own 54.78% 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. 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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