Rite Aid (RAD) will report third-quarter earnings after the close followed by larger drugstore rival and one-time suitor Walgreens Boot Alliance (WBA), which will release first-quarter results Thursday morning. Here’s what to look for.
X Estimates: Swing to a loss of 2 cents per share vs. year-ago per-share earnings of 2 cents. Revenue seen sliding over 4% to $7.74 billion.
Results: To be announced. Check back after the close.
Stock: Rite Aid’s 200-day line has been a stranger to shares since January of 2017, the last time the stock traded above its longer-term moving average. Rite Aid sank 2.8% to 2.07 intraday in the stock market today.
Shares have lost over 75% of their value in 2017, amid a drawn-out, failed merger with Walgreens Boots Alliance that resulted in Walgreens acquiring slightly fewer than 2,000 Rite Aid stores.
Investors will be looking at same-store sales figures and pharmacy comps for signs of Rite Aid’s health.
Walgreens Boots Alliance
Estimates: Profit growth of 15.5% to $1.27 a share on 6% sales gains to $30.33 billion.
Results: TBA. Walgreens reports Thursday.
Stock: Shares fell 0.55%. The stock slid over 12% in 2017, and only recently retook support at its 50-day line in late November. Walgreens hasn’t come up for air above its 200-day since September.
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