Wall Street brokerages forecast that Rite Aid Corporation (NYSE:RAD) will report earnings of ($0.02) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Rite Aid Corporation’s earnings. Rite Aid Corporation reported earnings per share of $0.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 166.7%. The company is expected to issue its next quarterly earnings report on Thursday, September 28th.

On average, analysts expect that Rite Aid Corporation will report full-year earnings of ($0.08) per share for the current fiscal year, with EPS estimates ranging from ($0.13) to ($0.04). For the next year, analysts anticipate that the firm will report earnings of ($0.03) per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Rite Aid Corporation.

Rite Aid Corporation (NYSE:RAD) last issued its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company had revenue of $7.78 billion for the quarter, compared to analyst estimates of $8.29 billion. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS.

A number of research analysts have issued reports on RAD shares. Zacks Investment Research upgraded Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 target price on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Mizuho cut Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a research report on Thursday, July 20th. Guggenheim reiterated a “neutral” rating on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 target price on shares of Rite Aid Corporation in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.53.

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Several hedge funds have recently added to or reduced their stakes in the company. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in Rite Aid Corporation during the first quarter valued at $322,000. Commerzbank Aktiengesellschaft FI boosted its stake in Rite Aid Corporation by 8.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 58,242 shares of the company’s stock valued at $248,000 after buying an additional 4,601 shares during the period. Vanguard Group Inc. boosted its stake in Rite Aid Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 84,435,016 shares of the company’s stock valued at $358,848,000 after buying an additional 3,420,318 shares during the period. Beach Point Capital Management LP purchased a new stake in Rite Aid Corporation during the first quarter valued at $4,386,000. Finally, Atlas Brown Inc. boosted its stake in Rite Aid Corporation by 43.1% in the second quarter. Atlas Brown Inc. now owns 103,000 shares of the company’s stock valued at $304,000 after buying an additional 31,000 shares during the period. Institutional investors own 54.77% of the company’s stock.

Shares of Rite Aid Corporation (RAD) traded down 1.29% on Tuesday, reaching $2.30. 1,791,409 shares of the company traded hands. The firm’s 50 day moving average is $2.55 and its 200 day moving average is $3.96. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77. The company’s market capitalization is $2.41 billion.

About Rite Aid Corporation

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

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Earnings History and Estimates for Rite Aid Corporation (NYSE:RAD)

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