Brokerages predict that Rite Aid Co. (NYSE:RAD) will announce $5.43 billion in sales for the current quarter, Zacks Investment Research reports. 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 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 earnings report on Wednesday, December 18th.

On average, 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 year, analysts expect that the business will report sales of $21.94 billion, with estimates ranging from $21.88 billion to $21.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Rite Aid.

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

A number of equities analysts have recently commented on RAD shares. Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. Deutsche Bank initiated 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 for the company. Finally, ValuEngine lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research 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 a consensus rating of “Hold” and a consensus price target of $11.67.

RAD stock opened at $8.81 on Friday. The company has a debt-to-equity ratio of 6.87, a current ratio of 1.53 and a quick ratio of 0.84. The business has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $7.89. Rite Aid has a twelve month low of $5.04 and a twelve month high of $23.00.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in Rite Aid during the third quarter valued at approximately $26,000. Parallax Volatility Advisers L.P. acquired a new position in Rite Aid in the second quarter valued at about $66,000. Point72 Hong Kong Ltd acquired a new position in Rite Aid in the second quarter valued at about $67,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Rite Aid in the second quarter worth about $90,000. Finally, World Asset Management Inc bought a new position in Rite Aid in the third quarter valued at approximately $93,000. Institutional investors own 47.99% of the company’s stock.

About Rite Aid

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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