Ross Stores, Inc. (NASDAQ:ROST) Expected to Post Earnings of $0.76 Per Share
Equities research analysts expect Ross Stores, Inc. (NASDAQ:ROST) to report earnings per share (EPS) of $0.76 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Ross Stores’ earnings, with estimates ranging from $0.74 to $0.79. Ross Stores reported earnings per share of $0.71 during the same quarter last year, which indicates a positive year over year growth rate of 7%. The company is expected to issue its next earnings report after the market closes on Thursday, August 17th.
On average, analysts expect that Ross Stores will report full year earnings of $3.15 per share for the current fiscal year, with EPS estimates ranging from $3.07 to $3.25. For the next financial year, analysts forecast that the firm will report earnings of $3.39 per share, with EPS estimates ranging from $3.28 to $3.48. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Ross Stores.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis.
ROST has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $72.00 target price on shares of Ross Stores in a research note on Tuesday, April 18th. Zacks Investment Research lowered Ross Stores from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a report on Tuesday, May 16th. Finally, Telsey Advisory Group decreased their price objective on Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. Ross Stores has an average rating of “Buy” and a consensus price target of $69.41.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ROST. BlackRock Inc. increased its stake 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 increased its stake 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. Vanguard Group Inc. increased its stake in shares of Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock valued at $2,335,790,000 after buying an additional 1,208,861 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Ross Stores during the first quarter valued at $79,225,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Ross Stores during the first quarter valued at $79,225,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Ross Stores (ROST) traded up 2.02% during trading on Tuesday, hitting $56.52. 1,065,474 shares of the company’s stock traded hands. Ross Stores has a 52-week low of $52.91 and a 52-week high of $69.81. The company’s 50 day moving average price is $56.36 and its 200 day moving average price is $63.03. The company has a market cap of $22.00 billion, a PE ratio of 19.36 and a beta of 1.10.
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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