Wall Street analysts forecast that Ross Stores, Inc. (NASDAQ:ROST) will report earnings of $1.11 per share for the current quarter, according to Zacks. Eight analysts have issued estimates for Ross Stores’ earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.07. Ross Stores posted earnings of $0.98 per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next earnings report on Tuesday, March 5th.
According to Zacks, analysts expect that Ross Stores will report full year earnings of $4.16 per share for the current year, with EPS estimates ranging from $4.05 to $4.21. For the next financial year, analysts expect that the firm will post earnings of $4.52 per share, with EPS estimates ranging from $4.34 to $4.65. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Ross Stores.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, November 20th. The apparel retailer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.55 billion. Ross Stores had a return on equity of 48.59% and a net margin of 10.68%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS.
A number of analysts have recently commented on ROST shares. DA Davidson dropped their price objective on Ross Stores to $84.00 and set an “average” rating on the stock in a research note on Wednesday. Cowen set a $101.00 price objective on Ross Stores and gave the stock a “buy” rating in a research note on Monday, July 30th. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Ross Stores in a research note on Wednesday, July 25th. Deutsche Bank boosted their price objective on Ross Stores from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Finally, SunTrust Banks boosted their price objective on Ross Stores to $103.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and a consensus target price of $96.12.
In related news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction on Monday, August 27th. The stock was sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now directly owns 25,127 shares in the company, valued at approximately $2,384,552.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction on Friday, October 12th. The stock was sold at an average price of $95.15, for a total value of $1,903,000.00. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several hedge funds have recently modified their holdings of ROST. Capital International Investors grew its holdings in shares of Ross Stores by 471.2% during the third quarter. Capital International Investors now owns 4,324,179 shares of the apparel retailer’s stock valued at $428,526,000 after buying an additional 3,567,179 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ross Stores by 33.8% during the third quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock valued at $1,378,259,000 after buying an additional 3,512,781 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Ross Stores by 74.9% during the third quarter. AQR Capital Management LLC now owns 4,965,542 shares of the apparel retailer’s stock valued at $492,085,000 after buying an additional 2,126,303 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Ross Stores by 379.2% during the second quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after buying an additional 1,400,405 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in shares of Ross Stores during the third quarter valued at $92,166,000. Institutional investors and hedge funds own 88.44% of the company’s stock.
Shares of ROST traded down $1.01 during midday trading on Thursday, reaching $81.63. The stock had a trading volume of 4,443,756 shares, compared to its average volume of 3,274,425. Ross Stores has a 52 week low of $70.84 and a 52 week high of $104.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71. The company has a market capitalization of $30.85 billion, a PE ratio of 24.44, a P/E/G ratio of 1.96 and a beta of 0.98.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, December 6th. Ross Stores’s payout ratio is 26.95%.
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 in the United States. It 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.
Featured Story: How accurate is the Rule of 72?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.