Equities analysts predict that Rite Aid Co. (NYSE:RAD) will post ($0.01) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Rite Aid’s earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.02). The company is scheduled to issue its next quarterly earnings report on Wednesday, January 2nd.

On average, analysts expect that Rite Aid will report full-year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.00. For the next year, analysts expect that the company will post earnings of $0.01 per share, with EPS estimates ranging from ($0.01) to $0.03. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Rite Aid.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 27th. The company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Rite Aid had a negative return on equity of 1.97% and a net margin of 3.26%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The firm’s revenue was up 1.4% compared to the same quarter last year.

A number of research analysts recently commented on RAD shares. Cowen reissued a “buy” rating and issued a $2.35 price target on shares of Rite Aid in a report on Thursday, June 28th. TheStreet cut Rite Aid from a “c-” rating to a “d” rating in a report on Wednesday, August 8th. Mizuho reissued a “hold” rating and issued a $2.00 price target on shares of Rite Aid in a report on Thursday, August 9th. Zacks Investment Research cut Rite Aid from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Loop Capital set a $1.00 price target on Rite Aid and gave the stock a “hold” rating in a report on Friday, September 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $2.16.

NYSE RAD traded down $0.02 during trading hours on Thursday, reaching $1.05. The company’s stock had a trading volume of 10,523,700 shares, compared to its average volume of 17,852,141. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 2.41. Rite Aid has a 1 year low of $1.02 and a 1 year high of $2.55. The stock has a market cap of $1.36 billion, a PE ratio of -54.00 and a beta of 1.66.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Rite Aid by 1.9% during the 1st quarter. BlackRock Inc. now owns 43,767,426 shares of the company’s stock worth $73,529,000 after acquiring an additional 813,790 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Rite Aid by 20.2% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 22,604,480 shares of the company’s stock worth $39,106,000 after acquiring an additional 3,797,936 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in shares of Rite Aid by 35.0% during the 2nd quarter. Alpine Associates Management Inc. now owns 13,514,200 shares of the company’s stock worth $22,840,000 after acquiring an additional 3,502,400 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Rite Aid by 124.0% during the 2nd quarter. Northern Trust Corp now owns 12,115,100 shares of the company’s stock worth $20,959,000 after acquiring an additional 6,706,701 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its holdings in shares of Rite Aid by 11.5% during the 2nd quarter. IndexIQ Advisors LLC now owns 7,863,047 shares of the company’s stock worth $13,603,000 after acquiring an additional 812,530 shares in the last quarter. 55.58% of the stock is currently owned by institutional investors and hedge funds.

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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