In the latest trading session, Rite Aid closed at $5.49, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.56% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the drugstore chain had gained 21.85% over the past month, outpacing the Retail-Wholesale sector's loss of 2.62% and the S&P 500's gain of 4.72% 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. Our most recent consensus estimate is calling for quarterly revenue of $5.94 billion, down 4.68% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Rite Aid. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Rite Aid currently has 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 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rite Aid (RAD) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Rite Aid closed at $5.49, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.56% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the drugstore chain had gained 21.85% over the past month, outpacing the Retail-Wholesale sector's loss of 2.62% and the S&P 500's gain of 4.72% 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. Our most recent consensus estimate is calling for quarterly revenue of $5.94 billion, down 4.68% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Rite Aid. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Rite Aid currently has 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 228, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.