Rite Aid (RAD) Updates FY19 Earnings Guidance

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Rite Aid (NYSE:RAD) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of ($0.03)-($0.01) for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.00. The company issued revenue guidance of $21.8-$21.95 billion, compared to the consensus revenue estimate of $21.80 billion.Rite Aid also updated its FY 2019 guidance to $-0.03–0.01 EPS.

RAD traded down $0.04 on Wednesday, hitting $0.81. 15,049,414 shares of the stock traded hands, compared to its average volume of 16,678,164. Rite Aid has a 52 week low of $0.80 and a 52 week high of $2.55. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $875.44 million, a price-to-earnings ratio of -40.55 and a beta of 1.42.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, December 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Rite Aid had a negative return on equity of 1.97% and a net margin of 3.26%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.45 billion. Rite Aid’s quarterly revenue was up 1.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Rite Aid from a buy rating to a hold rating in a research note on Monday, December 3rd. Loop Capital set a $1.00 price objective on Rite Aid and gave the company a hold rating in a research note on Friday, September 28th. Royal Bank of Canada set a $1.00 price objective on Rite Aid and gave the company a hold rating in a research note on Monday, September 24th. Finally, Goldman Sachs Group assumed coverage on Rite Aid in a research note on Thursday, September 6th. They issued a sell rating and a $1.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. Rite Aid presently has an average rating of Hold and an average price target of $2.04.

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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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