RAD - Rite Aid Corporation

NYSE - NYSE Delayed Price. Currency in USD
8.92
+0.05 (+0.56%)
At close: 4:02PM EDT
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Previous Close8.87
Open8.80
Bid8.90 x 800
Ask8.91 x 800
Day's Range8.63 - 8.99
52 Week Range5.04 - 27.20
Volume2,100,030
Avg. Volume2,665,968
Market Cap489.484M
Beta (3Y Monthly)1.75
PE Ratio (TTM)N/A
EPS (TTM)-8.61
Earnings DateSep 26, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date1999-10-14
1y Target Est6.60
Trade prices are not sourced from all markets
  • Health savings accounts provide benefits, tax advantages
    Yahoo Finance Video

    Health savings accounts provide benefits, tax advantages

    Rising health costs have become a burden for many Americans, but many people still may be unaware of one benefit they get, the health savings account. Personal finance expert Jean Chatzky joins Yahoo Finance to discuss the benefits of HSAs.

  • Rite Aid reports profit beat, Conagra tops estimates
    Yahoo Finance Video

    Rite Aid reports profit beat, Conagra tops estimates

    Yahoo Finance's Ines Ferre gives a market update on some of the morning's biggest movers from the floor of the NYSE. Rite Aid is up following an earnings beat, reaffirming guidance for the year. Conagra is seeing a boost following its earnings beat, with growth in snack foods and frozen meals.

  • Moody's

    Rite Aid Corporation -- Moody's says Rite Aid's proposed Tender Offer is a distressed exchange; PDR downgraded to Caa3-PD

    Moody's Investors Service ("Moody's") today stated that if the tender offer announced by Rite Aid Corporation on 15 October 2019 proceeds as outlined, it will constitute a distressed exchange, which is an event of default under Moody's definition of default. The Company announced that it recently completed a privately negotiated purchase from a noteholder and its affiliated funds of $84.1 million aggregate principal amount of its senior unsecured notes maturing 2027 and 2028 at 61% of par. The company also announced that it has commenced cash tender offers to purchase up to $100 million aggregate principal amount of its senior unsecured notes due 2027 and 2028.

  • MarketWatch

    Sanofi recalls Zantac because of possible contamination with potentially cancer-causing NDMA

    Sanofi announced Friday a recall of over-the-counter heartburn medication Zantac in the U.S. and Canada, because of possible contamination with N-nitrosodimethylamine (NDMA), which is believed to cause cancer. The U.S.-listed stock fell 0.9% in morning trading. Sanofi said it was working with health authorities to determine the level and extent of the recall. The recall comes less nearly three weeks after CVS Health Corp. , Walgreens Boots Alliance Inc. and Rite Aid Corp. said they were pulling Zantac from their drugstores' shelves following a Food and Drug Administration warning that the the product could contain low levels of NDMA. "Evaluations are ongoing on both drug substance (active ingredient) and finished drug product," Sanofi said Friday in a statement. "Due to inconsistencies in preliminary test results of the active ingredient used in the U.S. and Canadian products, Sanofi has made the decision to conduct the voluntary recall in the U.S. and Canada as the investigation continues." Sanofi's shares have gained 6.2% year to date, while the SPDR S&P Pharmaceuticals ETF has gained 2.0% and the S&P 500 has climbed 19.5%

  • Business Wire

    Rite Aid Announces Cash Tender Offers for Its Senior Unsecured Notes Due 2027 and 2028

    Rite Aid Corporation (RAD) (“Rite Aid” or the “Company”) today announced that it has commenced cash tender offers (the “Tender Offers”) to purchase up to $100 million aggregate principal amount of its outstanding 7.70% Senior Notes due 2027 (“2027 Notes”) and 6.875% Senior Notes due 2028 (the “2028 Notes” and together with the 2027 Notes, the “Notes”). The Tender Offers support the Company’s objective to reduce its total indebtedness while managing its liquidity and interest expense.

  • The Zacks Analyst Blog Highlights: Kroger, Walmart, Rite Aid, Altria and Phillip Morris
    Zacks

    The Zacks Analyst Blog Highlights: Kroger, Walmart, Rite Aid, Altria and Phillip Morris

    The Zacks Analyst Blog Highlights: Kroger, Walmart, Rite Aid, Altria and Phillip Morris

  • What's Next for Altria (MO) Stock After Kroger (KR), Walmart (WMT), and Other Retailers Abandon E-Cigarette Sales?
    Zacks

    What's Next for Altria (MO) Stock After Kroger (KR), Walmart (WMT), and Other Retailers Abandon E-Cigarette Sales?

    Supermarket giant Kroger (KR) became the latest retailer to discontinue the sale of electronic cigarettes amid regulatory scrutiny.

  • Walgreens Inks Retail Health Collaboration Deal With Novant
    Zacks

    Walgreens Inks Retail Health Collaboration Deal With Novant

    This collaboration is in line with Walgreens' (WBA) commitment toward providing affordable and convenient healthcare facilities to residents of North Carolina.

  • The Roller Coaster Ride of Rite Aid Stock Is Much Ado About Nothing
    InvestorPlace

    The Roller Coaster Ride of Rite Aid Stock Is Much Ado About Nothing

    Shares of struggling pharmacy retailer Rite Aid (NYSE:RAD) went on a roller coaster ride of epic proportions in September. RAD stock price entered September at $6.50. A few days into September, RAD stock was trading just shy of $10. By the end of the month, RAD stock price had come crashing back down to $6.50.Source: Michael Gordon / Shutterstock.com In other words, in a matter of one month, RAD stock both rallied more than 50%, and dropped more than 30%.In the big picture, the wild roller coaster ride that RAD stock price went on in September is much ado about nothing. The company's fundamentals didn't change at all in September. Instead, its second-quarter numbers announced in September confirmed that Rite Aid remains a struggling pharmacy retailer that can potentially stabilize its sales and margins over the next few years. But at the same time, it's uncertain whether Rite Aid can generate high enough profits to support a price tag for RAD stock north of $5.InvestorPlace - Stock Market News, Stock Advice & Trading TipsConsequently, I think investors would be wise to ignore the recent roller coaster ride of Rite Aid stock. Instead, they should focus on its fundamentals, which continue to support the bear thesis on RAD stock. Forget the Roller Coaster RideInvestors would be wise to ignore both the 50% rally and the 30% plunge by Rite Aid stock in September. Instead, they should just think of RAD stock as a name that delivered a flattish return last month.The roller coaster ride is much ado about nothing. Rite Aid's fundamentals haven't changed at all. Instead, there was a big shift in the markets from momentum stocks to value stocks, as investors reassessed the valuations of all stocks. Rite Aid stock got caught up in that shift, and because the shares were really beaten up, RAD stock subsequently skyrocketed. * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? But, just as quickly as the momentum-to-value shift came about, it went away. Now momentum stocks are back to outperforming value stocks. As the value trade has unwound, RAD stock has given up all of its gains.So the roller coaster ride of Rite Aid stock in September was driven by macro factors largely irrelevant to the company's fundamentals. Therefore, the recent volatility of RAD stock price should be ignored. Focus on the FundamentalsInvestors would be equally wise to turn their focus to the fundamentals of RAD stock. Unfortunately, the company's second-quarter numbers reported in September confirm that those fundamentals remain weak.Here's the big picture. Rite Aid is a niche, specialty pharmacy retailer that has largely been squeezed out of the retail landscape by the competition. Among its competitors are e-commerce marketplaces like Amazon (NASDAQ:AMZN), which recently entered the market, and retail titans like Walmart (NYSE:WMT) and Target (NYSE:TGT) which have expanded their retail drug operations. Rite Aid's traffic, revenues, margins, and profits have consequently slipped over the past several years.They continue to slip today, and the trend remains unfavorable. Its revenues dropped 1% year-over-year in Q2, the worst top-line decline in over a year for Rite Aid. Its EBITDA margins fell 0.24 percentage points year-over-year, in-line with its average quarterly margin drop of the last two years The company ran up a huge loss in the quarter. Importantly, on a trailing 12-month basis, its revenues and margins are dropping at a fairly consistent and bearish rate.Rite Aid's full-year guidance calls for its revenues and margins to stabilize into the end of the year. That could happen, as its partnership with Amazon could provide a nice traffic and sales tailwind for the company. But, even if that does happen, its fundamentals will still broadly remain depressed, characterized by flattish sales growth, anemic margins, and tiny profits. Rite Aid Stock Isn't Worth $7According to my numbers, RAD stock isn't worth $7 today. Instead, it's worth less than $5.Rite Aid's revenues aren't going much higher anytime soon. In a worst-case scenario, its revenues will continue to drop at a steady 1%-2% rate per year. In a best -case scenario, Rite Aid will leverage its new Amazon partnership to turn its steady revenue declines into slight growth, in the ballpark of 0%-1% annual increases.Assuming the best-case scenario, renewed, consistent revenue growth should be accompanied by slight margin expansion as management continues to focus on cost reductions.That all sounds good. But the problem is that this company is paying $200 million or more every year to service its huge debt load, and its operating profits may never get big enough to fully fund the interest bill and produce a sizable profit. At best, I think Rite Aid's EPS can reach 50 cents by fiscal 2025.Based on a forward price-earnings multiple of 16, which is average for the market, and a 10% discount rate, that equates to a 2019 price target for RAD stock of below $5. The Bottom Line on RAD StockRite Aid stock went on a roller coaster ride in September. Forget about that roller coaster ride. It had nothing to do with the company's fundamentals. Its fundamentals remain depressed and continue to indicate that RAD stock can drop further.Because of that, I think the best thing to do with Rite Aid is remain on the sidelines.As of this writing, Luke Lango was long AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Best ETFs for 2019: The Race Is a Little More Gnarly Now * 7 Next-Generation Healthcare Stocks to Buy * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? The post The Roller Coaster Ride of Rite Aid Stock Is Much Ado About Nothing appeared first on InvestorPlace.

  • Battered Rite Aid Stock Could Reward Bottom Fishers
    Investopedia

    Battered Rite Aid Stock Could Reward Bottom Fishers

    Rite Aid stock may complete a basing pattern after a brutal three-year downtrend and rally 50% in coming months.

  • MarketWatch

    Rite Aid names Jim Peters COO

    Rite Aid Corp. announced the appointment of Jim Peters as chief operating officer on Wednesday, in charge of the company's pharmacy business and clinical strategy. He succeeds Bryan Everett, who, Rite Aid says, is leaving to pursue other opportunities. Peters was most recently the chief executive at Skyward Health. Rite Aid stock has lost more than 70% over the last year while the S&P 500 index is down 1.3% for the period.

  • Business Wire

    Rite Aid Appoints Jim Peters As Chief Operating Officer

    “Jim is a seasoned healthcare executive with health innovation, corporate development, strategy and healthcare provider-payor operating experience,” said Heyward Donigan, chief executive officer, Rite Aid. “I’m excited to join Rite Aid at such an inflection point in the health and wellness industry,” said Peters.

  • TheStreet.com

    Rite Aid Names Health-Industry Veteran Jim Peters as Chief Operating Officer

    The drugstore operator's new operating chief had been CEO of a strategic adviser to the health-care industry.

  • Rite Aid Charts Send Wrong Signals to Investors Who Hope for a Recovery
    TheStreet.com

    Rite Aid Charts Send Wrong Signals to Investors Who Hope for a Recovery

    Sellers of the drugstore chain's stock have been aggressive for months and the overall technical picture is weak.

  • Business Wire

    Rite Aid Kicks Off Annual Pharmacy Champions Program

    Today, Rite Aid (RAD) announced the kick-off of the company’s annual Pharmacy Champions program, held throughout October during American Pharmacists Month. Pharmacy Champions was created to celebrate the outstanding service provided by Rite Aid’s pharmacy team throughout the year. Rite Aid customers have the opportunity to recognize any pharmacist, pharmacy technician or wellness ambassador who has gone above and beyond in delivering exceptional health-related care to their patients.

  • CVS, Walgreens, Rite Aid pull Zantac from shelves over carcinogen worries
    MarketWatch

    CVS, Walgreens, Rite Aid pull Zantac from shelves over carcinogen worries

    Three of the nation’s largest pharmacies will stop selling the heartburn medication Zantac and similar generic products following a warning by the Food and Drug Administration that the drug may contain low levels of a potentially cancer-causing substance.

  • Thomson Reuters StreetEvents

    Edited Transcript of RAD earnings conference call or presentation 26-Sep-19 12:30pm GMT

    Q2 2020 Rite Aid Corp Earnings Call

  • Drugstore Stock Set for Another Leg Lower
    Schaeffer's Investment Research

    Drugstore Stock Set for Another Leg Lower

    Short interest dropped drastically during the most recent reporting period

  • Rite Aid (RAD) Beats Q2 Earnings Estimates, Updates View
    Zacks

    Rite Aid (RAD) Beats Q2 Earnings Estimates, Updates View

    Rite Aid (RAD) posts mixed second-quarter fiscal 2020 results. Further, management revises its view for the fiscal year.

  • Company News For Sep 27, 2019
    Zacks

    Company News For Sep 27, 2019

    Companies In The News Are: RAD, BYND, SCHN, CCL

  • Rite Aid Shares Jump on Solid 2nd-Quarter Results
    GuruFocus.com

    Rite Aid Shares Jump on Solid 2nd-Quarter Results

    Company posts earnings beat, revises guidance Continue reading...

  • Pharmacies & Drug Stores Industry Boasts Bright Prospects
    Zacks

    Pharmacies & Drug Stores Industry Boasts Bright Prospects

    Pharmacies & Drug Stores Industry Boasts Bright Prospects

  • Benzinga

    Rite Aid Reports Mixed Q2 Earnings, New CEO Says Pharmacy Chain 'Acting With Urgency'

    Rite Aid Corporation (NYSE: RAD ) reported second-quarter earnings of 12 cents per share on Thursday, beating the analyst consensus estimate of 7 cents by 71.43%.  The company reported quarterly sales ...