Ross Stores, Inc. (NASDAQ:ROST) – Equities researchers at William Blair upped their FY2018 EPS estimates for shares of Ross Stores in a research note issued on Friday. William Blair analyst D. Hofkin now forecasts that the apparel retailer will post earnings of $3.28 per share for the year, up from their previous forecast of $3.24. William Blair also issued estimates for Ross Stores’ Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.91 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.95 EPS and FY2019 earnings at $3.55 EPS.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. ILLEGAL ACTIVITY WARNING: “FY2018 EPS Estimates for Ross Stores, Inc. Boosted by Analyst (ROST)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://ledgergazette.com/2017/11/22/fy2018-eps-estimates-for-ross-stores-inc-boosted-by-analyst-rost.html.
Several other research firms also recently issued reports on ROST. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, August 21st. Buckingham Research restated a “neutral” rating and set a $71.00 price objective on shares of Ross Stores in a report on Thursday, October 19th. Instinet restated a “buy” rating and set a $74.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. UBS AG cut their price objective on Ross Stores from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. Finally, SunTrust Banks, Inc. set a $80.00 price objective on Ross Stores and gave the stock a “buy” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Ross Stores currently has an average rating of “Buy” and an average target price of $73.71.
Ross Stores (NASDAQ ROST) traded down $0.07 during midday trading on Monday, reaching $72.67. The company’s stock had a trading volume of 3,069,300 shares, compared to its average volume of 2,964,253. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14. The firm has a market cap of $28,047.97, a P/E ratio of 23.24, a PEG ratio of 2.22 and a beta of 1.10. Ross Stores has a 12-month low of $52.85 and a 12-month high of $73.94.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Ross Stores by 1.9% during the second quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock worth $2,086,753,000 after purchasing an additional 686,186 shares during the period. Principal Financial Group Inc. boosted its position in Ross Stores by 13.1% during the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after purchasing an additional 849,789 shares during the period. Flossbach Von Storch AG boosted its position in Ross Stores by 10.7% during the third quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after purchasing an additional 532,900 shares during the period. Ameriprise Financial Inc. boosted its position in Ross Stores by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 5,424,201 shares of the apparel retailer’s stock worth $313,116,000 after purchasing an additional 272,437 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Ross Stores by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock worth $340,012,000 after purchasing an additional 85,983 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.
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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. Ross Stores’s payout ratio is 20.45%.
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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