Zacks: Brokerages Anticipate Ross Stores, Inc. (ROST) to Post $0.67 Earnings Per Share
Analysts forecast that Ross Stores, Inc. (NASDAQ:ROST) will report earnings of $0.67 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Ross Stores’ earnings. The lowest EPS estimate is $0.65 and the highest is $0.69. Ross Stores reported earnings per share of $0.62 in the same quarter last year, which indicates a positive year-over-year growth rate of 8.1%. The firm is scheduled to announce its next earnings report on Thursday, November 16th.
On average, analysts expect that Ross Stores will report full-year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $3.18 to $3.28. For the next financial year, analysts forecast that the firm will post earnings of $3.46 per share, with EPS estimates ranging from $3.33 to $3.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Ross Stores.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.37 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.
Several research firms have recently weighed in on ROST. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, August 21st. Buckingham Research reissued a “neutral” rating and issued a $71.00 price objective on shares of Ross Stores in a research report on Thursday. Instinet reissued a “buy” rating and issued a $74.00 price objective on shares of Ross Stores in a research report on Sunday, August 20th. UBS AG lowered their price objective on Ross Stores from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, August 18th. Finally, Telsey Advisory Group raised Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Friday, July 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $70.21.
Shares of Ross Stores (NASDAQ ROST) traded up 1.33% during midday trading on Friday, hitting $64.23. The company had a trading volume of 2,334,638 shares. Ross Stores has a one year low of $52.85 and a one year high of $69.81. The stock’s 50-day moving average price is $62.48 and its 200-day moving average price is $60.40. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 21.21 and a beta of 1.14.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Ross Stores’s dividend payout ratio (DPR) is currently 21.12%.
In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ROST. Farmers & Merchants Investments Inc. lifted its position in shares of Ross Stores by 11.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 84,767 shares of the apparel retailer’s stock worth $5,473,000 after buying an additional 9,048 shares in the last quarter. Foster & Motley Inc. lifted its position in shares of Ross Stores by 14.8% during the 3rd quarter. Foster & Motley Inc. now owns 18,329 shares of the apparel retailer’s stock worth $1,184,000 after buying an additional 2,361 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Ross Stores by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 349,306 shares of the apparel retailer’s stock worth $22,550,000 after buying an additional 9,412 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ross Stores during the 3rd quarter worth approximately $3,551,000. Finally, BerganKDV Wealth Management LLC bought a new position in shares of Ross Stores during the 3rd quarter worth approximately $371,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
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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