Equities analysts predict that Ross Stores, Inc. (NASDAQ:ROST) will report sales of $3.81 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Ross Stores’ earnings. The lowest sales estimate is $3.78 billion and the highest is $3.83 billion. Ross Stores reported sales of $3.59 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The company is scheduled to report its next earnings report after the market closes on Thursday, May 23rd.

According to Zacks, analysts expect that Ross Stores will report full year sales of $15.91 billion for the current fiscal year, with estimates ranging from $15.84 billion to $16.05 billion. For the next fiscal year, analysts forecast that the company will report sales of $16.87 billion, with estimates ranging from $16.69 billion to $17.11 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ross Stores.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.05 billion.

ROST has been the subject of a number of research reports. DA Davidson boosted their price target on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Guggenheim reissued a “buy” rating and issued a $105.00 price target on shares of Ross Stores in a research report on Tuesday, March 5th. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, January 23rd. Loop Capital boosted their price target on shares of Ross Stores to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Finally, Wells Fargo & Co boosted their price target on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Ross Stores presently has a consensus rating of “Buy” and a consensus price target of $97.84.

In other news, EVP Michael J. Hartshorn sold 9,924 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total transaction of $907,847.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Balmuth sold 25,689 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the transaction, the chairman now owns 51,998 shares in the company, valued at $4,719,858.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,054 shares of company stock worth $12,504,328. Company insiders own 2.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Manhattan Co. acquired a new position in shares of Ross Stores during the first quarter worth about $27,000. Bollard Group LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $25,000. CI Investments Inc. acquired a new position in shares of Ross Stores during the fourth quarter worth about $26,000. Athena Capital Advisors LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $29,000. Finally, Berman Capital Advisors LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

ROST traded down $0.66 on Monday, reaching $93.87. The company had a trading volume of 76,527 shares, compared to its average volume of 1,966,658. Ross Stores has a 1 year low of $75.91 and a 1 year high of $104.35. The stock has a market cap of $34.73 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.82.

Ross Stores declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 5th that permits the company to buyback $2.55 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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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Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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