Yahoo Finance Rite Aid (RAD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Rite Aid (RAD) closed at $5.16, marking a -1.34% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the drugstore chain had gained 0.19% in the past month. In that same time, the Retail-Wholesale sector gained 3.13%, while the S&P 500 gained 1.83%.
Investors will be hoping for strength from Rite Aid as it approaches its next earnings release. In that report, analysts expect Rite Aid to post earnings of -$0.32 per share. This would mark a year-over-year decline of 313.33%. Meanwhile, our latest consensus estimate is calling for revenue of $5.94 billion, down 4.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.11 per share and revenue of $23.57 billion, which would represent changes of -39.74% and -4.05%, respectively, from the prior year.
Any recent changes to analyst estimates for Rite Aid should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rite Aid is currently sporting a Zacks Rank of #3 (Hold).
The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rite Aid Corporation (RAD) : Free Stock Analysis Report
