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Rite Aid Corp (NYSE:RAD)

Rite Aid Corp (NYSE:RAD)

On a reported basis, net earnings came in at $1.2 billion, reflecting an increase of 5.3% from the prior-year quarter.

TRN's revenue has grown at an average annualized rate of about 9.3% during the past five years. We've updated our RAD accretion estimates as a result of the new merger deadline of July 31st and we now estimate that the $1 billion synergy opportunity translates to $0.47 in EPS accretion by fiscal 2020, or 7% EPS accretion.

Shares of Rite Aid Corporation (NYSE:RAD) opened at 3.74 on Wednesday. The company has a market cap of $3.94 billion, a P/E ratio of 935.00 and a beta of 1.85. For the past 5 days of trading, the stock has seen a move of 14.37%. Rite Aid Corporation has a 12 month low of $2.90 and a 12 month high of $8.77.

Rite Aid Corporation (RAD) will report its next earnings on Jun 29 BMO. If you are accessing this piece on another site, it was stolen and republished in violation of United States and worldwide copyright law.

Rite Aid Corp (NYSE:RAD) now has a trailing P/E of 982.5 while its forward P/E according to Thomson Reuters is 43.67. Cowen and Company reaffirmed an "outperform" rating and issued a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, June 12th. Research Firm Zacks boosted Rite Aid Corporation from a "sell" recommendation to a "hold" recommendation in a analysis note on Mon, Feb 27th. Guggenheim downgraded Rite Aid Corporation from a "buy" rating to a "neutral" rating in a report on Tuesday, April 25th.

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Analysts on average have given a price target of $6.19 to Rite Aid Corporation (RAD) stock. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock now has an average rating of "Buy" and an average target price of $6.21. Tyrus Capital S.A.M. now owns 208,205 shares of the company's stock valued at $885,000 after buying an additional 78,800 shares during the period. In return, Rite Aid will provide certain transition services for up to three years after the transaction is expected to close within six months. The Price to Sales (P/S) ratio of the stock is 0.1, while P/B (Price to Book) stands at 5.34. Tracking most recent quarter period, Price to book (P/B) ration is at 6.66 and Price to cash per share ration is at 17.48.

"Walgreens and Rite Aid have taken a pragmatic approach", said Neil Saunders, managing director of market research firm GlobalData Retail. State Street Corp increased its position in Rite Aid Corporation by 0.9% in the fourth quarter. Tyrus Capital S.A.M. boosted its stake in Rite Aid Corporation by 60.9% in the first quarter. Stock investors acquired 30,000 call options on the company. Filling prescriptions is about 70% or so of each company's USA retail sales.

"I would like to thank our entire Rite Aid team for their extraordinary efforts during this process and their tremendous focus on taking great care of our customers and patients", stated John Standley, chairman and CEO Rite Aid.

Fred's operates 650 stores, mostly in the southeast.

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