Walgreens Ditches Rite Aid Merger, Buys 2200 Stores Instead; Q3 Beats

The high-yield issue of debt has a 6.75% coupon and will mature on Jun 15, 2021. The company has total market capitalization of $241.60B and a total of 9.95B outstanding shares. The stock of Rite Aid Corporation (NYSE:RAD) earned "Neutral" rating by Guggenheim on Wednesday, April 26.

The company also authorized a $5 billion buyback program and raised the lower end of its full-year profit forecast by 8 cents per share to a range of $4.98 to $5.08. Analysts have a mean recommendation of 2.60 on this stock. Rite Aid Corp (NYSE:RAD)'s price sits 7.14% above from its 50-day moving average of $3.51 and -34.37% away from the stock's 200-day moving average which is $5.27. Credit Suisse Group restated an "outperform" rating and set a $6.50 price target on shares of Rite Aid Corporation in a research note on Monday, March 20th.

Checking in on the RSI or relative strength index for Rite Aid Corporation (NYSE:RAD), we have noted that the current 14-day level is 42.48. While the stock price moved along with the volume change, shares are touching $4.11.

Rite Aid Corporation (NYSE:RAD)'s quick ratio for most recent quarter is 0.70. The Equitec Proprietary Markets Llc holds 521,800 shares with $4.30 million value, down from 1.04 million last quarter.

RAD has been the topic of Quite a few brokerage firm research. Asset Management One Co.

Consensus estimates for Walgreens are $1.30 in EPS and revenue of $29.75 billion. The same period of previous year reportedly had $0.01 in earnings per share (EPS) and $8.18 billion in revenue. "This led to our highest reported quarterly retail prescription market share in the U.S".

01/07/2016 - Rite Aid Corporation had its "hold" rating reiterated by analysts at Jefferies.

While there are a number of profitability ratios that measure a company's ability to generate profit from the sales or services it provides, one of the most important is the net profit margin. APG Asset Management N.V. increased its position in shares of Rite Aid Corporation by 70.6% in the first quarter.

While looking at the Stock's Performance, Rite Aid Corporation now shows a Weekly Performance of 23.2%, where Monthly Performance is 13.58%, Quarterly performance is -12.28%, 6 Months performance is -52.76% and yearly performance percentage is -48.49%. If Walgreens raises its share repurchase authorization to $5 billion (which Jefferies believes is reasonable given its free cash flow outlook and the excess cash it has generated since the Rite Aid deal was announced) the firm believes that the company could increase earnings by $0.17 per share (3%) and $0.46 per share (7%) in fiscal 2018 and fiscal 2019, respectively. Institutional investors and hedge funds own 56.85% of the company's stock. If you are viewing this news story on another website, it was stolen and republished in violation of United States & worldwide copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/06/28/rite-aid-corporation-sees-unusually-high-options-volume-rad.html.

About Rite Aid Corporation Rite Aid Corporation is a retail drugstore chain.

In addition to the stores, the deal includes the sale of three distribution centers in Dayville, Conn., Philadelphia and Spartanburg, S.C. While Rite-Aid will continue as an independent brand, it will have a significantly smaller national footprint.

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