Equities analysts predict that Ross Stores, Inc. (NASDAQ:ROST) will post $3.53 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Ross Stores’ earnings, with estimates ranging from $3.46 billion to $3.58 billion. Ross Stores posted sales of $3.31 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The firm is scheduled to announce its next earnings results on Thursday, May 17th.
On average, analysts expect that Ross Stores will report full-year sales of $3.53 billion for the current year, with estimates ranging from $14.40 billion to $15.06 billion. For the next year, analysts forecast that the firm will report sales of $15.63 billion per share, with estimates ranging from $15.14 billion to $16.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ross Stores.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.95 billion.
Ross Stores (NASDAQ:ROST) opened at $76.43 on Tuesday. The firm has a market capitalization of $29,210.00, a PE ratio of 21.53, a PEG ratio of 1.91 and a beta of 1.09. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Ross Stores has a 12-month low of $52.85 and a 12-month high of $85.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be given a $0.225 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.90 annualized dividend and a yield of 1.18%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s dividend payout ratio (DPR) is currently 18.03%.
Ross Stores declared that its board has approved a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC purchased a new position in Ross Stores in the fourth quarter worth about $132,000. Zions Bancorporation lifted its stake in Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after purchasing an additional 1,637 shares during the last quarter. Sit Investment Associates Inc. lifted its stake in Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after purchasing an additional 1,365 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Ross Stores in the fourth quarter worth about $159,000. Finally, Financial Gravity Companies Inc. bought a new stake in Ross Stores in the fourth quarter worth about $164,000. Institutional investors own 89.58% of the company’s stock.
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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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