Brokerages Anticipate Ross Stores, Inc. (ROST) Will Post Quarterly Sales of $3.27 Billion
Equities analysts expect Ross Stores, Inc. (NASDAQ:ROST) to report sales of $3.27 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Ross Stores’ earnings, with the lowest sales estimate coming in at $3.24 billion and the highest estimate coming in at $3.30 billion. Ross Stores reported sales of $3.09 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The business is expected to announce its next quarterly earnings report on Thursday, November 16th.
According to Zacks, analysts expect that Ross Stores will report full-year sales of $3.27 billion for the current fiscal year, with estimates ranging from $13.70 billion to $14.01 billion. For the next year, analysts forecast that the business will report sales of $14.52 billion per share, with estimates ranging from $14.32 billion to $14.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Ross Stores.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year.
Several equities analysts have recently weighed in on ROST shares. BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the company a “hold” rating in a report on Tuesday, August 8th. MKM Partners increased their target price on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Wolfe Research lowered their target price on Ross Stores from $76.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Cowen and Company restated an “outperform” rating and set a $55.00 target price on shares of Ross Stores in a report on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $70.17.
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Shares of Ross Stores (NASDAQ:ROST) opened at 64.91 on Wednesday. The firm’s 50 day moving average is $60.02 and its 200-day moving average is $60.48. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81. The firm has a market cap of $25.03 billion, a price-to-earnings ratio of 21.44 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, September 6th. Ross Stores’s dividend payout ratio is currently 21.12%.
In related news, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction on 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 is available through this link. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ROST. Balentine LLC lifted its stake in Ross Stores by 0.3% in the second 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 last quarter. Guardian Life Insurance Co. of America increased its stake in shares of 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 worth $101,000 after purchasing an additional 10 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Ross Stores by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock worth $411,000 after purchasing an additional 19 shares during the last quarter. First Heartland Consultants Inc. increased its stake in shares of Ross Stores by 0.6% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock worth $354,000 after purchasing an additional 34 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Ross Stores by 3.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares during the last quarter. 90.40% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores Company Profile
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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