Equities research analysts predict that Ross Stores, Inc. (NASDAQ:ROST) will post $3.27 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Ross Stores’ earnings, with estimates ranging from $3.23 billion to $3.30 billion. Ross Stores reported sales of $3.09 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The company is expected to announce its next 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 year, with estimates ranging from $13.70 billion to $14.01 billion. For the next fiscal year, analysts forecast that the firm will report sales of $14.51 billion per share, with estimates ranging from $14.32 billion to $14.76 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ross Stores.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the company earned $0.71 EPS. Ross Stores’s revenue for the quarter was up 7.9% on a year-over-year basis.
Several research firms recently commented on ROST. William Blair restated an “outperform” rating on shares of Ross Stores in a research report on Monday, May 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $69.00 price target on shares of Ross Stores in a research note on Monday, May 22nd. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Thursday. Telsey Advisory Group dropped their price target on Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, May 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $67.00 price target (down previously from $70.00) on shares of Ross Stores in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $70.00.
Shares of Ross Stores (ROST) traded up 0.18% during mid-day trading on Friday, hitting $60.71. The company had a trading volume of 3,528,360 shares. The company has a market capitalization of $23.25 billion, a PE ratio of 20.05 and a beta of 1.09. The company’s 50-day moving average is $57.43 and its 200 day moving average is $60.95. Ross Stores has a one year low of $52.85 and a one year high of $69.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, September 6th. Ross Stores’s payout ratio is 21.12%.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Herndon Capital Management LLC grew its holdings in shares of Ross Stores by 85.6% during the 2nd quarter. Herndon Capital Management LLC now owns 202,917 shares of the apparel retailer’s stock worth $11,715,000 after acquiring an additional 93,559 shares during the period. Mechanics Bank Trust Department grew its holdings in shares of Ross Stores by 0.5% during the 2nd quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock worth $3,778,000 after acquiring an additional 315 shares during the period. Marshall Wace North America L.P. grew its holdings in shares of Ross Stores by 21.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,463,322 shares of the apparel retailer’s stock worth $84,873,000 after acquiring an additional 262,946 shares during the period. Swiss National Bank grew its holdings in shares of Ross Stores by 2.3% during the 2nd quarter. Swiss National Bank now owns 1,667,592 shares of the apparel retailer’s stock worth $96,270,000 after acquiring an additional 36,700 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Ross Stores during the 2nd quarter worth approximately $968,000. 89.62% of the stock is owned by institutional investors and hedge funds.
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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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