Rite Aid (NYSE:RAD) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Rite Aid (NYSE:RAD) released its quarterly earnings data on Wednesday, June 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.16), RTT News reports. Rite Aid had a negative net margin of 3.40% and a negative return on equity of 1.08%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned ($0.20) earnings per share. Rite Aid updated its FY 2020 guidance to $-0.14-0.72 EPS.

RAD traded down $0.40 during midday trading on Friday, hitting $6.79. 3,785,953 shares of the company traded hands, compared to its average volume of 1,661,243. The company has a quick ratio of 0.79, a current ratio of 1.45 and a debt-to-equity ratio of 6.18. Rite Aid has a 52-week low of $6.14 and a 52-week high of $40.40. The stock’s 50 day moving average price is $7.84.

Several brokerages have recently weighed in on RAD. Guggenheim reaffirmed a “sell” rating on shares of Rite Aid in a research report on Thursday, April 18th. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Saturday, April 13th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Rite Aid has an average rating of “Hold” and an average target price of $38.33.

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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