Analysts Expect Ross Stores, Inc. (ROST) to Announce $0.67 Earnings Per Share
Wall Street brokerages expect Ross Stores, Inc. (NASDAQ:ROST) to announce $0.67 earnings per share for the current quarter, according to Zacks. Seven analysts have provided estimates for Ross Stores’ earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.69. Ross Stores posted earnings of $0.62 per share during the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 16th.
On average, analysts expect that Ross Stores will report full year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.18 to $3.28. For the next financial year, analysts expect that the firm will report earnings of $3.46 per share, with EPS estimates ranging from $3.33 to $3.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Ross Stores.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share.
Several equities analysts recently commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $63.00 target price on shares of Ross Stores in a report on Tuesday. Royal Bank Of Canada set a $67.00 target price on shares of Ross Stores and gave the company a “hold” rating in a report on Monday, June 19th. MKM Partners increased their target price on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday, July 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $69.84.
Shares of Ross Stores (NASDAQ ROST) traded down 0.57% during trading on Thursday, hitting $61.06. 274,137 shares of the stock were exchanged. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 20.17 and a beta of 1.09. The stock’s 50 day moving average price is $56.87 and its 200 day moving average price is $61.01. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be given a $0.16 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. Ross Stores’s dividend payout ratio is 21.12%.
In other news, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Balentine LLC lifted its position in Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after acquiring an additional 5 shares during the period. Guardian Life Insurance Co. of America lifted its position in Ross Stores by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after acquiring an additional 10 shares during the period. Alps Advisors Inc. lifted its position in Ross Stores by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock valued at $411,000 after acquiring an additional 19 shares during the period. First Heartland Consultants Inc. lifted its position in Ross Stores by 0.6% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock valued at $354,000 after acquiring an additional 34 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Ross Stores by 3.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after acquiring an additional 61 shares during the period. 89.62% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.