Rite Aid (RAD) Issues FY 2019 Earnings Guidance

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Rite Aid (NYSE:RAD) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $-0.03–0.01 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.01. The company issued revenue guidance of $21.8-21.95 billion, compared to the consensus revenue estimate of $21.79 billion.Rite Aid also updated its FY19 guidance to ($0.03)-($0.01) EPS.

NYSE RAD opened at $0.81 on Thursday. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $905.31 million, a P/E ratio of -40.55 and a beta of 1.42. Rite Aid has a 1 year low of $0.80 and a 1 year high of $2.55.

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

RAD has been the topic of several research reports. Zacks Investment Research raised Rite Aid from a sell rating to a hold rating in a research report on Friday, October 5th. Royal Bank of Canada set a $1.00 price objective on Rite Aid and gave the company a hold rating in a research report on Monday, September 24th. Loop Capital set a $1.00 price objective on Rite Aid and gave the company a hold rating in a research report on Friday, September 28th. Finally, Goldman Sachs Group initiated coverage on Rite Aid in a research report on Thursday, September 6th. They set a sell rating and a $1.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $2.04.

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About Rite Aid

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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