Brokerages expect Ross Stores (NASDAQ:ROST) to report $3.54 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ross Stores’ earnings. The highest sales estimate is $3.58 billion and the lowest is $3.46 billion. Ross Stores posted sales of $3.31 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, May 17th.
According to Zacks, analysts expect that Ross Stores will report full-year sales of $14.80 billion for the current year, with estimates ranging from $14.70 billion to $15.06 billion. For the next fiscal year, analysts anticipate that the company will report sales of $15.65 billion per share, with estimates ranging from $15.33 billion to $16.10 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Ross Stores.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%.
A number of equities analysts recently commented on ROST shares. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Nomura reiterated a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. SunTrust Banks reiterated a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $78.00 price target on shares of Ross Stores in a research note on Wednesday, March 7th. Finally, Jefferies Group reissued a “hold” rating and issued a $73.00 target price on shares of Ross Stores in a report on Wednesday, March 7th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $81.86.
In other news, Chairman Michael Balmuth sold 59,777 shares of Ross Stores stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $76.53, for a total transaction of $4,574,733.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sharon D. Garrett sold 26,000 shares of Ross Stores stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total value of $2,003,820.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,652 shares of company stock worth $19,829,016. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in Ross Stores during the fourth quarter worth approximately $132,000. Sit Investment Associates Inc. raised its holdings in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after purchasing an additional 1,365 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Ross Stores during the fourth quarter worth approximately $159,000. Financial Gravity Companies Inc. bought a new stake in Ross Stores during the fourth quarter worth approximately $164,000. Finally, Certified Advisory Corp bought a new stake in Ross Stores during the fourth quarter worth approximately $185,000. 90.40% of the stock is currently owned by institutional investors.
NASDAQ:ROST opened at $76.17 on Monday. The stock has a market capitalization of $29,590.14, a P/E ratio of 22.81, a PEG ratio of 1.92 and a beta of 1.08. Ross Stores has a one year low of $52.85 and a one year high of $85.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, March 16th. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is 26.95%.
Ross Stores announced that its board has authorized a share buyback plan on Tuesday, March 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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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 brand names 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 savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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