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Rite Aid (RAD) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

Rite Aid (RAD) closed at $5.14 in the latest trading session, marking a -1.53% move from the prior day. This change lagged the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.06%.

Heading into today, shares of the drugstore chain had gained 7.19% over the past month, outpacing the Retail-Wholesale sector's gain of 1.11% and lagging the S&P 500's gain of 8.12% in that time.

Investors will be hoping for strength from Rite Aid as it approaches its next earnings release. The company is expected to report EPS of -$0.32, down 313.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.94 billion, down 4.68% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.11 per share and revenue of $23.57 billion. These totals would mark changes of -39.74% and -4.05%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for Rite Aid. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 69.08% lower. Rite Aid is holding a Zacks Rank of #3 (Hold) right now.

The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Rite Aid Corporation (RAD) : Free Stock Analysis Report
 
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Zacks Investment Research