Why is Rite Aid stock plummeting?
Apr 14, 2022 · Rite Aid (NYSE: RAD) stock is rising higher on Thursday thanks to the company’s results from its earnings report for the fourth quarter of fiscal 2022. Source: Jonathan Weiss / Shutterstock.com
Why did Rite Aid's revenue rise in the third quarter?
Rite Aid (RAD) is likely to have gained from strength in PBM, RxEvolution strategy and delivery services in Q4. Rising wage costs and higher payroll expenses are …
Should you worry about Rite Aid's earnings beat?
Apr 14, 2022 · Another highlight from the Rite Aid earnings report is its outlook for fiscal 2023. This has it expecting revenue between $23.1 billion and $23.5 billion. That’s within analysts’ fiscal 2023 revenue estimate of $23.45 billion. To go along with that, Ride Aid’s guidance for fiscal 2023 includes adjusted earnings per share of -53 cents to ...
How much will Rite Aid lose in 2022?
Apr 01, 2022 · Rite Aid stock higher premarket following insider buy seekingalpha.com - March 23 at 11:52 AM: Rite Aid (NYSE:RAD) Shares Gap Up to $9.80 americanbankingnews.com - March 23 at 10:58 AM: 3 Retail Pharmacy and Drugstore Stocks to Watch Amid Industry Headwinds finance.yahoo.com - March 21 at 2:27 PM: Rite Aid to Release Fourth Quarter Results on ...
Is Rite Aid stock a good buy?
Rite Aid has received a consensus rating of Sell. The company's average rating score is 1.00, and is based on no buy ratings, no hold ratings, and 3 sell ratings.
Why is Rite Aid Stock falling?
Rite Aid stock was plummeting Thursday after Deutsche Bank cut its price target for the stock to a new Wall Street-low ahead of the pharmacy retailer's earnings report next week. The shares were down 24.4% to $6.39 on Thursday. The stock has lost about 56% this year.Apr 7, 2022
How many shares does Rite Aid have?
Share StatisticsAvg Vol (3 month) 33.29MShares Outstanding 555.77MImplied Shares Outstanding 6N/AFloat 852.26M% Held by Insiders 12.72%7 more rows
What is wrong with Rite Aid?
Computerized distribution snafus and charges of software-based consumer fraud have contributed to the pharmacy chain's bottom-line ills. Multimillion-dollar losses, allegations of software-based consumer fraud, computer problems at an advanced distribution center and a new CIO have put the IT group at Rite Aid Corp.
Is Rite Aid having financial problems?
The FactSet consensus is for revenue of $25 billion and loss per share of 77 cents. Rite Aid shares have slumped 5.1% in 2021 while the S&P 500 index SPX, -1.21% has gained 23.7% for the period.Dec 21, 2021
Who audits Rite Aid?
DeloitteThe company disclosed in a recent Form 8-K filing that 15.3 percent of its shareholders voted against ratifying Deloitte, which has audited Rite Aid's financial statements since 1999.
Who is the CEO of Rite Aid?
Heyward R. Donigan (Aug 12, 2019–)Rite Aid / CEO
Who is Heyward Donigan?
Heyward Donigan was appointed Rite Aid's president and chief executive officer in August 2019. Before joining Rite Aid, Donigan was president and chief executive officer of Sapphire Digital, which designs and develops omnichannel platforms that help consumers choose their best fit healthcare providers.
Bottom Line
Stocks to Consider
Owing to such well-chalked endeavors, the company revised its guidance for fiscal 2021. It now expects revenues to be $23.9-$24.2 billion, whose midpoint of $24.1 billion is almost in line with the Zacks Consensus Estimate. Same-store sales are expected to grow 3.5-4.5%.
The pharmacy company reported very good Q3 results
TGT - Free Report) has an impressive long-term earnings growth rate of 8.5% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
What happened
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
So what
Shares of Rite Aid ( NYSE:RAD) were soaring 22.1% higher as of 10:53 a.m. EST on Thursday. The big jump came after the pharmacy company announced its fiscal 2021 third-quarter results before the market opened.
Now what
Investors shouldn't place too much emphasis on one quarterly update, whether good or bad. It's better to look at a company's quarterly performance in the context of its overall business prospects.