Ross Stores, Inc. (ROST) Expected to Post Earnings of $0.67 Per Share
Brokerages expect that Ross Stores, Inc. (NASDAQ:ROST) will post $0.67 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ross Stores’ earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.65. Ross Stores posted earnings of $0.62 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 16th.
According to Zacks, analysts expect that Ross Stores will report full year earnings of $3.22 per share for the current financial year, with EPS estimates ranging from $3.18 to $3.28. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.46 per share, with EPS estimates ranging from $3.33 to $3.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Ross Stores.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS.
ROST has been the subject of a number of research reports. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, July 12th. MKM Partners increased their price objective on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Instinet reiterated a “buy” rating and set a $74.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. Bank of America Corporation reiterated a “buy” rating and set a $80.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $75.00 price objective on shares of Ross Stores in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $70.17.
Shares of Ross Stores (NASDAQ:ROST) traded up 0.05% during midday trading on Monday, hitting $65.26. The stock had a trading volume of 325,844 shares. Ross Stores has a one year low of $52.85 and a one year high of $69.81. The firm’s 50-day moving average is $60.37 and its 200 day moving average is $60.52. The company has a market capitalization of $25.16 billion, a PE ratio of 21.55 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s payout ratio is 21.12%.
In other news, CEO Barbara Rentler sold 15,492 shares of the firm’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 value of $945,012.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. BlackRock Inc. lifted its position in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares during the last quarter. Flossbach Von Storch AG lifted its position in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after buying an additional 4,933,020 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock valued at $112,149,000 after buying an additional 1,888,715 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Ross Stores by 68.4% in the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock valued at $265,834,000 after buying an additional 1,870,314 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock valued at $90,817,000 after buying an additional 1,254,028 shares during the last quarter. 90.40% of the stock is owned by 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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