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Today’s Research Reports on Trending Tickers: Walgreens and Rite Aid

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / January 5, 2018 / While Walgreens posted quarterly figures that beat expectations, Rite Aid couldn't do the same. Shares of both companies slipped however in trading yesterday. Walgreens will be purchasing a total of 1,932 stores as well as three distribution centers and related inventory from Rite Aid for $4.375 billion.

RDI Initiates Coverage on:

Walgreens Boots Alliance, Inc.
https://rdinvesting.com/news/?ticker=WBA

Rite Aid Corporation
https://rdinvesting.com/news/?ticker=RAD

Walgreens Boots Alliance, Inc. shares closed down 5.18% yesterday on trading volume almost double compared to average. Despite closing in red territory, the company released its first quarter earnings on Thursday morning that beat expectations. Walgreens reported EPS of $1.28 with revenue of $30.7 billion. Wall Street had been expecting $1.27 a share for EPS on revenue of $30.33 billion. For the full year, Walgreens is expecting EPS of $5.45 to $5.70 compared to a previous forecast of $5.40 to $5.70. The midpoint consensus from analysts is $5.54. CEO Stefano Pessina commented, "I am pleased that we delivered another strong performance in the first quarter, led by continued prescription volume and market share growth in Retail Pharmacy USA." Since last year, shares of the stock are down over 13%.

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Access RDI's Walgreens Boots Alliance, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WBA

Rite Aid Corporation shares closed down 1.42% on nearly 63 million shares traded yesterday. The company released its most recent quarterly results on Wednesday that did little to impress the Street. Rite Aid broke even in EPS and reported revenue of $5.35 billion. Analysts had expected a net loss of $0.02 and revenue of $7.45 billion. Same store sales slipped 2.5% from the prior year quarter. Number of prescriptions filled in same stores also decreased 2.4% from the past year partly because of exclusion from certain pharmacy networks with which Rite Aid participated in the prior year. CEO John Standley remarked on the quarter and said, "The third quarter was a busy time for our team in preparing for and beginning the transfer of stores and related assets to Walgreens Boots Alliance. I would like to thank our entire Rite Aid team for their dedication and efforts in accomplishing this important business initiative for our company and our shareholders. To date, we have transferred 357 stores and have received approximately $715 million in proceeds, which we have used to pay down debt. Looking forward, in addition to completing the transfer process, we will continue to focus on our most significant business-building opportunities as we work together to deliver a great experience to our customers and patients."

Access RDI's Rite Aid Corporation Research Report at:
https://rdinvesting.com/news/?ticker=RAD

Our Actionable Research on Walgreens Boots Alliance, Inc. (NASDAQ: WBA) and Rite Aid Corporation (NYSE: RAD) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com