Rite Aid Corporation (RAD) Releases Earnings Results, Misses Expectations By $-0.03 EPS

Rite Aid Corporation (RAD) reported quarterly earnings results on Thursday, Jun-16-2016. The company reported $0.01 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.04. The company posted revenue of $8184.20 million in the period, compared to analysts expectations of $8200.56 million. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Many Wall Street Analysts have commented on Rite Aid Corporation. Deutsche Bank Downgraded Rite Aid Corporation on Apr 8, 2016 to ” Hold”, Price Target of the shares are set at $9.

Rite Aid Corporation closed down -0.01 points or -0.13% at $7.82 with 1,62,99,342 shares getting traded on Wednesday. Post opening the session at $7.78, the shares hit an intraday low of $7.78 and an intraday high of $7.86 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 13, 2015, Tony Montini (EVP) sold 353,194 shares at $8.38 per share price. According to the SEC, on Apr 17, 2015, Joseph B Jr Anderson (director) sold 150,000 shares at $8.25 per share price. On Apr 14, 2015, Robert K Thompson (EVP) sold 95,850 shares at $8.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications health and beauty aids personal care items cosmetics household items food and beverages greeting cards seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs over-the-counter medications and personal care health and beauty aids and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.

Rite Aid Corporation

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