Rite Aid (NYSE:RAD) Issues Q1 2022 Earnings Guidance

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Rite Aid (NYSE:RAD) updated its first quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $6.10 billion-$6.30 billion, compared to the consensus revenue estimate of $6.05 billion.

Shares of RAD stock traded down $0.41 on Tuesday, reaching $17.53. The company’s stock had a trading volume of 2,241,059 shares, compared to its average volume of 2,573,984. The company has a market capitalization of $965.94 million, a P/E ratio of -2.41 and a beta of 1.01. Rite Aid has a 12-month low of $8.85 and a 12-month high of $32.48. The stock’s 50 day simple moving average is $20.45 and its 200-day simple moving average is $17.99. The company has a quick ratio of 0.75, a current ratio of 1.49 and a debt-to-equity ratio of 5.27.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, April 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.79) by $0.01. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.81 billion. Rite Aid had a positive return on equity of 2.12% and a negative net margin of 1.66%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.37) EPS. Research analysts expect that Rite Aid will post 0.64 EPS for the current year.

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Rite Aid from $17.00 to $27.00 and gave the stock a hold rating in a report on Thursday, March 25th. TheStreet upgraded Rite Aid from a d+ rating to a c- rating in a research report on Monday, February 8th. Finally, Zacks Investment Research cut Rite Aid from a buy rating to a hold rating and set a $25.00 price objective for the company. in a report on Wednesday, February 17th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $18.75.

About Rite Aid

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment 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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