In the latest trading session, Rite Aid closed at $5.91, marking a -1.83% move from the previous day. This change lagged the S&P 500's 0.89% loss on the day. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the drugstore chain had gained 55.96% over the past month, outpacing the Retail-Wholesale sector's gain of 4.27% and the S&P 500's gain of 11.42% in that time.
Investors will be hoping for strength from Rite Aid as it approaches its next earnings release. On that day, Rite Aid is projected to report earnings of -$0.32 per share, which would represent a year-over-year decline of 313.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Investors should also note any recent changes to analyst estimates for Rite Aid. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 214, putting it in the bottom 16% 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.
To follow RAD in the coming trading sessions, be sure to utilize Zacks.com.
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Rite Aid (RAD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Rite Aid closed at $5.91, marking a -1.83% move from the previous day. This change lagged the S&P 500's 0.89% loss on the day. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the drugstore chain had gained 55.96% over the past month, outpacing the Retail-Wholesale sector's gain of 4.27% and the S&P 500's gain of 11.42% in that time.
Investors will be hoping for strength from Rite Aid as it approaches its next earnings release. On that day, Rite Aid is projected to report earnings of -$0.32 per share, which would represent a year-over-year decline of 313.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Investors should also note any recent changes to analyst estimates for Rite Aid. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 214, putting it in the bottom 16% 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.
To follow RAD in the coming trading sessions, be sure to utilize Zacks.com.