Wall Street brokerages expect Ross Stores, Inc. (NASDAQ:ROST) to announce earnings per share (EPS) of $0.97 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Ross Stores’ earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $0.99. Ross Stores reported earnings per share of $0.91 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 19th.
On average, analysts expect that Ross Stores will report full year earnings of $4.50 per share for the current year, with EPS estimates ranging from $4.43 to $4.56. For the next financial year, analysts forecast that the company will post earnings of $4.93 per share, with EPS estimates ranging from $4.75 to $5.11. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Ross Stores.
Ross Stores (NASDAQ:ROST) last posted its quarterly 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. Ross Stores had a net margin of 10.46% and a return on equity of 49.21%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $1.04 earnings per share. Ross Stores’s revenue for the quarter was up 6.5% compared to the same quarter last year.
A number of research firms have recently weighed in on ROST. Telsey Advisory Group downgraded shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price target on the stock. in a research note on Monday, June 24th. Goldman Sachs Group downgraded shares of Ross Stores from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $102.00 to $91.00 in a research note on Thursday, June 27th. Bank of America set a $120.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday, August 23rd. DA Davidson upped their price target on shares of Ross Stores to $105.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Loop Capital raised shares of Ross Stores to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Ross Stores has a consensus rating of “Buy” and an average target price of $107.61.
NASDAQ ROST opened at $110.11 on Friday. Ross Stores has a 1-year low of $75.91 and a 1-year high of $110.88. 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 capitalization of $39.45 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. The firm’s fifty day simple moving average is $105.32 and its 200-day simple moving average is $99.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, September 11th. Ross Stores’s dividend payout ratio is presently 23.94%.
In other Ross Stores news, CEO Barbara Rentler sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $107.06, for a total transaction of $2,676,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Orban sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $102.50, for a total transaction of $102,500.00. Following the sale, the director now owns 543,939 shares of the company’s stock, valued at $55,753,747.50. The disclosure for this sale can be found here. Insiders sold 200,238 shares of company stock valued at $20,989,814 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ROST. Krane Funds Advisors LLC bought a new stake in Ross Stores during the second quarter valued at about $25,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Ross Stores during the second quarter valued at about $31,000. Litman Gregory Asset Management LLC acquired a new position in shares of Ross Stores during the second quarter valued at about $32,000. Berman Capital Advisors LLC raised its position in shares of Ross Stores by 32.2% during the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock valued at $48,000 after buying an additional 127 shares during the last quarter. Finally, Thor Advisors LLC acquired a new position in shares of Ross Stores during the first quarter valued at about $54,000. Institutional investors own 89.08% of the company’s stock.
About Ross Stores
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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