Wall Street analysts forecast that Ross Stores, Inc. (NASDAQ:ROST) will report $3.77 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Ross Stores’ earnings. The highest sales estimate is $3.80 billion and the lowest is $3.75 billion. Ross Stores posted sales of $3.55 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The firm is expected to issue its next earnings results on Tuesday, November 19th.
According to Zacks, analysts expect that Ross Stores will report full year sales of $15.90 billion for the current year, with estimates ranging from $15.84 billion to $15.97 billion. For the next financial year, analysts forecast that the business will report sales of $16.88 billion, with estimates ranging from $16.73 billion to $17.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Ross Stores.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share.
ROST has been the topic of several research reports. Guggenheim set a $120.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group set a $100.00 price target on Ross Stores and gave the company a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank upped their target price on Ross Stores from $107.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Loop Capital raised Ross Stores to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, August 16th. Finally, Morgan Stanley increased their price target on Ross Stores from $94.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Buy” and an average target price of $107.61.
In other news, insider James S. Fassio sold 60,000 shares of Ross Stores stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $103.38, for a total value of $6,202,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 25,000 shares of Ross Stores stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $107.06, for a total value of $2,676,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,238 shares of company stock worth $20,989,814. 2.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Ross Stores by 32.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,461 shares of the apparel retailer’s stock valued at $14,319,000 after acquiring an additional 35,200 shares during the last quarter. Boston Partners raised its holdings in shares of Ross Stores by 8.8% in the second quarter. Boston Partners now owns 1,083,053 shares of the apparel retailer’s stock worth $107,385,000 after buying an additional 87,548 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Ross Stores by 52.5% in the second quarter. Treasurer of the State of North Carolina now owns 230,586 shares of the apparel retailer’s stock worth $22,856,000 after buying an additional 79,360 shares during the period. Empire Life Investments Inc. raised its holdings in shares of Ross Stores by 8.6% in the second quarter. Empire Life Investments Inc. now owns 141,931 shares of the apparel retailer’s stock worth $14,068,000 after buying an additional 11,193 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its stake in Ross Stores by 8.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 3,546 shares of the apparel retailer’s stock worth $351,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.
Shares of NASDAQ ROST opened at $110.11 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. The company has a market cap of $39.45 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.31 and a beta of 0.84. Ross Stores has a 12 month low of $75.91 and a 12 month high of $110.88. The stock has a 50-day moving average price of $105.32 and a two-hundred day moving average price of $99.24.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a dividend of $0.255 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.02 annualized dividend and a yield of 0.93%. Ross Stores’s payout ratio is 23.94%.
Ross Stores Company Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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