Rite Aid Corporation (NYSE: RAD) is having a relatively strong start to the year in today’s trading session. The gains come as investors await the upcoming earnings report. Today, we’ll talk about what’s coming with regard to the company, what we’re seeing from the stock, and what we’ll be watching for surrounding RAD ahead.
RAD Reports Earnings Wednesday
As mentioned above, Rite Aid Corporation is having a strong start to the year in the trading session today as investors await the upcoming earnings report. On Wednesday, shortly after the market close, RAD will report its earnings for the fiscal third quarter.
Ultimately, investors are hoping for some good news after the stock took a 76% dive through the year 2017, earning its place as one of the worst-performing stocks of the year. Nonetheless, price action today shows that investors have faith that the third quarter report will be a positive one for RAD.
During the quarter, analysts expect that the company generated revenue of $7.45 billion. However, it is also expected that the company will report its third consecutive adjusted loss. Nonetheless, if the company somehow beats expectations and reports positive earnings, we can expect to see big gains.
What We’re Seeing From The Stock
While Rite Aid Corporation proved to be a source of some serious disappointment throughout the year 2017, investors seem to be pretty hopeful when it comes to 2018, as well as the earnings report that is coming. This can be seen by looking at the gains on the stock today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:18), RAD is trading at $2.11 per share after a gain of $0.14 per share (7.38%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RAD. In particular, we’re interested in following the company’s coming earnings report as well as the growth of the company as it continues to rebuild. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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