Rite Aid (NYSE:RAD) Announces Quarterly Earnings Results

Rite Aid (NYSE:RAD) released its earnings results on Thursday. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04, Briefing.com reports. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations 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 revenue was down 1.0% compared to the same quarter last year. Rite Aid updated its FY 2020 guidance to $0.00-0.56 EPS and its FY20 guidance to $0.00-0.56 EPS.

Shares of Rite Aid stock opened at $7.28 on Friday. Rite Aid has a 12-month low of $5.04 and a 12-month high of $27.20. The company has a current ratio of 1.53, a quick ratio of 0.79 and a debt-to-equity ratio of 6.87. The business’s 50 day moving average is $6.77 and its 200-day moving average is $6.04.

RAD has been the topic of several research reports. ValuEngine upgraded Rite Aid from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Evercore ISI reiterated a “sell” rating on shares of Rite Aid in a research note on Monday, August 12th. Finally, Deutsche Bank began coverage on Rite Aid in a research note on Thursday, September 12th. They set a “sell” rating and a $5.00 price objective on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Rite Aid currently has a consensus rating of “Hold” and an average price target of $11.67.

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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Earnings History for Rite Aid (NYSE:RAD)

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