Equities research analysts predict that Ross Stores, Inc. (NASDAQ:ROST) will post earnings per share of $0.76 for the current quarter, Zacks reports. Seven analysts have provided estimates for Ross Stores’ earnings, with estimates ranging from $0.74 to $0.79. Ross Stores reported earnings per share of $0.71 in the same quarter last year, which suggests a positive year over year growth rate of 7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 17th.

According to Zacks, analysts expect that Ross Stores will report full year earnings of $3.15 per share for the current fiscal year, with EPS estimates ranging from $3.07 to $3.25. For the next year, analysts anticipate that the firm will report earnings of $3.39 per share, with EPS estimates ranging from $3.28 to $3.48. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Ross Stores.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the company posted $0.73 earnings per share. Ross Stores’s revenue was up 7.0% compared to the same quarter last year.

Several equities research analysts recently weighed in on ROST shares. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, July 12th. BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada set a $67.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a report on Tuesday, May 16th. Finally, Telsey Advisory Group decreased their price objective on Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. Ross Stores currently has a consensus rating of “Buy” and a consensus target price of $69.41.

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Ross Stores (NASDAQ ROST) traded up 2.00% during trading on Tuesday, hitting $56.51. 1,065,274 shares of the company traded hands. Ross Stores has a 12-month low of $52.91 and a 12-month high of $69.81. The stock has a 50 day moving average price of $56.36 and a 200 day moving average price of $63.03. The company has a market capitalization of $21.99 billion, a P/E ratio of 19.36 and a beta of 1.10.

In other 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 transaction of $1,019,899.90. Following the completion of the transaction, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Planning Advisors LLC raised its position in shares of Ross Stores by 29.1% in the second quarter. Capital Planning Advisors LLC now owns 19,723 shares of the apparel retailer’s stock valued at $1,139,000 after buying an additional 4,442 shares during the last quarter. Pacer Advisors Inc. increased its stake in Ross Stores by 12.8% in the second quarter. Pacer Advisors Inc. now owns 13,164 shares of the apparel retailer’s stock worth $760,000 after buying an additional 1,495 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Ross Stores by 17.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 94,741 shares of the apparel retailer’s stock worth $5,469,000 after buying an additional 14,151 shares during the last quarter. Airain ltd increased its stake in Ross Stores by 39.9% in the second quarter. Airain ltd now owns 314,180 shares of the apparel retailer’s stock worth $18,138,000 after buying an additional 89,653 shares during the last quarter. Finally, USS Investment Management Ltd increased its stake in Ross Stores by 16.1% in the second quarter. USS Investment Management Ltd now owns 98,300 shares of the apparel retailer’s stock worth $5,675,000 after buying an additional 13,600 shares during the last quarter. 91.37% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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