Rite Aid (RAD) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Rite Aid (NYSE:RAD) announced its earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.01, ARN reports. The company had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.43 billion.
Several analysts have recently commented on the stock. 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 equities research 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’s stock. The company presently has an average rating of “Buy” and an average price target of $7.75.
Shares of Rite Aid (NYSE:RAD) opened at 7.44 on Thursday. Rite Aid has a 52 week low of $2.62 and a 52 week high of $8.62. The stock has a 50-day moving average of $7.74 and a 200-day moving average of $6.5. The company has a market cap of $7.227 billion and a P/E ratio of 31.68.
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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