Analysts Expect Rite Aid Co. (NYSE:RAD) Will Post Quarterly Sales of $5.75 Billion

Wall Street analysts expect Rite Aid Co. (NYSE:RADGet Rating) to report $5.75 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Rite Aid’s earnings, with the highest sales estimate coming in at $5.81 billion and the lowest estimate coming in at $5.69 billion. Rite Aid reported sales of $6.16 billion in the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Rite Aid will report full-year sales of $22.98 billion for the current fiscal year, with estimates ranging from $22.75 billion to $23.21 billion. For the next fiscal year, analysts forecast that the business will post sales of $23.41 billion, with estimates ranging from $23.38 billion to $23.45 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Rite Aid.

Rite Aid (NYSE:RADGet Rating) last announced its quarterly earnings data on Thursday, April 14th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.06). Rite Aid had a negative net margin of 2.19% and a negative return on equity of 19.38%. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter last year, the firm posted ($0.78) earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year.

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Rite Aid from $1.00 to $2.00 in a research note on Monday, April 18th. StockNews.com started coverage on Rite Aid in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $10.75.

Several institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new stake in Rite Aid during the 3rd quarter valued at $1,419,000. ProShare Advisors LLC purchased a new stake in Rite Aid during the 4th quarter valued at $180,000. Two Sigma Advisers LP purchased a new stake in Rite Aid during the 3rd quarter valued at $13,425,000. BlackRock Inc. raised its holdings in Rite Aid by 8.7% during the 3rd quarter. BlackRock Inc. now owns 4,797,390 shares of the company’s stock valued at $68,124,000 after buying an additional 385,629 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Rite Aid during the 4th quarter valued at $38,000. 65.68% of the stock is currently owned by institutional investors and hedge funds.

RAD stock traded up $0.16 during midday trading on Thursday, hitting $5.44. The company’s stock had a trading volume of 2,786,794 shares, compared to its average volume of 3,496,699. Rite Aid has a 12 month low of $4.68 and a 12 month high of $23.02. The company has a quick ratio of 0.51, a current ratio of 1.18 and a debt-to-equity ratio of 27.75. The firm has a market capitalization of $302.72 million, a price-to-earnings ratio of -0.55 and a beta of 1.11. The company has a 50 day moving average of $7.27 and a two-hundred day moving average of $10.14.

Rite Aid Company Profile (Get Rating)

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 provides various other pharmacy services and an assortment of products comprising over-the-counter medications, health and beauty aids, personal care products, seasonal merchandise, cosmetics, household items, food and beverages, greeting cards, seasonal and general merchandise, pet care, and a variety of other everyday and convenience products, as well as brand and generic prescription drugs; and a private brand product line.

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