Rite Aid Co. (RAD) Releases FY15 Earnings Guidance
Rite Aid Co. (NYSE:RAD) updated its FY15 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.30-0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.36, Analyst Ratings Network.com reports. The company issued revenue guidance of $26.0-26.5 billion, compared to the consensus revenue estimate of $26.19 billion.
A number of research firms have recently commented on RAD. Analysts at S&P Equity Research downgraded shares of Rite Aid to a sell rating in a research note on Friday, June 6th. On a related note, analysts at Goldman Sachs reiterated a buy rating on shares of Rite Aid in a research note on Thursday, June 5th. Finally, analysts at Credit Suisse reiterated an outperform rating on shares of Rite Aid in a research note on Friday, May 23rd. They now have a $8.50 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $7.75.
Shares of Rite Aid Co. (NYSE:RAD) opened at 7.44 on Thursday. Rite Aid Co. has a one year low of $2.62 and a one year high of $8.62. The stock’s 50-day moving average is $7.74 and its 200-day moving average is $6.5. The company has a market cap of $7.227 billion and a P/E ratio of 31.68.
Rite Aid (NYSE:RAD) last announced its earnings results on Thursday, June 19th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.05 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Rite Aid Co. will post $0.35 EPS for the current fiscal year.
Rite Aid Corporation is a retail drugstore chain in the United States. In the Company’s stores, it sells prescription drugs and a range of other merchandise, which it calls front end products.
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