Ross Stores, Inc. (ROST) Expected to Announce Quarterly Sales of $3.95 Billion

Equities research analysts expect that Ross Stores, Inc. (NASDAQ:ROST) will announce sales of $3.95 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Ross Stores’ earnings, with estimates ranging from $3.88 billion to $4.02 billion. Ross Stores reported sales of $3.51 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, February 27th.

On average, analysts expect that Ross Stores will report full year sales of $3.95 billion for the current fiscal year, with estimates ranging from $13.95 billion to $14.08 billion. For the next fiscal year, analysts expect that the business will post sales of $14.61 billion per share, with estimates ranging from $14.40 billion to $14.86 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Ross Stores.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis.

A number of research firms recently weighed in on ROST. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Nomura reissued a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of Ross Stores in a research report on Wednesday, January 17th. SunTrust Banks reissued a “buy” rating and issued a $96.00 price objective on shares of Ross Stores in a research report on Friday, February 2nd. Cowen set a $78.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research report on Saturday, November 18th. Finally, Jefferies Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research report on Saturday, November 18th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $74.95.

Shares of Ross Stores (NASDAQ:ROST) opened at $78.33 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.68. Ross Stores has a 1 year low of $52.85 and a 1 year high of $85.66. The firm has a market cap of $29,930.00, a PE ratio of 25.03, a P/E/G ratio of 2.13 and a beta of 1.06.

A number of hedge funds have recently modified their holdings of the stock. Balentine LLC increased its holdings in Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after buying an additional 5 shares during the period. Novare Capital Management LLC increased its holdings in Ross Stores by 4.4% during the fourth quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock valued at $1,228,000 after buying an additional 640 shares during the period. Daiwa SB Investments Ltd. increased its holdings in Ross Stores by 5.1% during the fourth quarter. Daiwa SB Investments Ltd. now owns 13,750 shares of the apparel retailer’s stock valued at $1,103,000 after buying an additional 670 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Ross Stores by 3.3% during the second quarter. Ameritas Investment Partners Inc. now owns 23,803 shares of the apparel retailer’s stock valued at $1,373,000 after buying an additional 769 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Ross Stores by 5.2% during the third quarter. Private Advisor Group LLC now owns 16,256 shares of the apparel retailer’s stock valued at $1,061,000 after buying an additional 806 shares during the period. 91.47% of the stock is currently owned by institutional investors.

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

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