Rite Aid (RAD) Announces Earnings Results, Hits Estimates
Rite Aid (NYSE:RAD) released its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01), MarketWatch Earnings reports. Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the firm earned ($0.01) earnings per share. Rite Aid’s revenue for the quarter was up 1.4% compared to the same quarter last year. Rite Aid updated its FY19 guidance to ($0.03) – $0.01 EPS.
RAD stock opened at $1.28 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.85 and a current ratio of 1.49. Rite Aid has a 12 month low of $1.23 and a 12 month high of $2.55. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -64.00 and a beta of 1.81.
A number of equities analysts recently commented on the stock. Royal Bank of Canada set a $1.00 price target on shares of Rite Aid and gave the stock a “hold” rating in a research report on Monday. Cowen reissued a “buy” rating and issued a $2.35 target price on shares of Rite Aid in a report on Thursday, June 28th. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. TheStreet lowered shares of Rite Aid from a “c-” rating to a “d” rating in a report on Wednesday, August 8th. Finally, Mizuho reissued a “hold” rating and issued a $2.00 target price on shares of Rite Aid in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $2.25.
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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