Ross Stores, Inc. (NASDAQ:ROST) Expected to Announce Quarterly Sales of $3.37 Billion
Wall Street brokerages forecast that Ross Stores, Inc. (NASDAQ:ROST) will report sales of $3.37 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Ross Stores’ earnings, with the highest sales estimate coming in at $3.41 billion and the lowest estimate coming in at $3.34 billion. Ross Stores posted sales of $3.18 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The company is expected to issue its next earnings results on Thursday, August 17th.
According to Zacks, analysts expect that Ross Stores will report full-year sales of $3.37 billion for the current fiscal year, with estimates ranging from $13.57 billion to $13.98 billion. For the next fiscal year, analysts anticipate that the company will report sales of $14.40 billion per share, with estimates ranging from $14.16 billion to $14.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ross Stores.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis.
ROST has been the topic of several recent research reports. Royal Bank Of Canada set a $70.00 price objective on Ross Stores and gave the company a “hold” rating in a research report on Monday, May 15th. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Friday, July 14th. They noted that the move was a valuation call. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and set a $63.00 price target on shares of Ross Stores in a research report on Tuesday, May 16th. Finally, BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $69.23.
In related news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total value of $1,019,899.90. Following the sale, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of ROST. Guardian Life Insurance Co. of America boosted its stake in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the last quarter. Nikko Asset Management Americas Inc. bought a new stake in shares of Ross Stores during the first quarter valued at $112,000. Finally, Advisory Services Network LLC bought a new stake in shares of Ross Stores during the first quarter valued at $171,000. Institutional investors own 90.25% of the company’s stock.
Ross Stores (ROST) traded down 0.62% on Friday, reaching $54.31. The company’s stock had a trading volume of 4,069,052 shares. Ross Stores has a 52-week low of $53.89 and a 52-week high of $69.81. The stock’s 50 day moving average price is $58.18 and its 200 day moving average price is $63.73. The firm has a market cap of $21.14 billion, a PE ratio of 18.61 and a beta of 1.12.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, June 6th were given a $0.16 dividend. The ex-dividend date was Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. Ross Stores’s dividend payout ratio is currently 21.92%.
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About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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