Brokerages Anticipate Ross Stores, Inc. (NASDAQ:ROST) Will Post Quarterly Sales of $4.54 Billion

Analysts forecast that Ross Stores, Inc. (NASDAQ:ROSTGet Rating) will report sales of $4.54 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Ross Stores’ earnings. The lowest sales estimate is $4.52 billion and the highest is $4.57 billion. Ross Stores reported sales of $4.52 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Ross Stores will report full-year sales of $19.87 billion for the current financial year, with estimates ranging from $19.75 billion to $19.93 billion. For the next fiscal year, analysts expect that the company will report sales of $21.07 billion, with estimates ranging from $20.85 billion to $21.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Ross Stores.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The apparel retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.95 billion. Ross Stores had a net margin of 9.11% and a return on equity of 44.17%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share.

ROST has been the topic of several analyst reports. Cowen dropped their target price on shares of Ross Stores from $109.00 to $103.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 22nd. Credit Suisse Group upped their target price on shares of Ross Stores from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of Ross Stores from $137.00 to $125.00 in a research note on Thursday, February 17th. Citigroup dropped their target price on shares of Ross Stores from $134.00 to $125.00 in a research note on Wednesday, March 2nd. Finally, Gordon Haskett downgraded shares of Ross Stores from an “accumulate” rating to a “hold” rating and dropped their target price for the stock from $130.00 to $106.00 in a research note on Thursday, February 10th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Buy” and an average price target of $122.75.

A number of institutional investors and hedge funds have recently bought and sold shares of ROST. Equitec Proprietary Markets LLC purchased a new position in Ross Stores during the fourth quarter valued at $26,000. Zullo Investment Group Inc. purchased a new position in Ross Stores during the fourth quarter valued at $30,000. Riverview Trust Co purchased a new position in Ross Stores during the first quarter valued at $31,000. First Horizon Advisors Inc. grew its stake in Ross Stores by 607.9% during the third quarter. First Horizon Advisors Inc. now owns 538 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 462 shares in the last quarter. Finally, Kozak & Associates Inc. purchased a new position in Ross Stores during the third quarter valued at $45,000. 87.02% of the stock is owned by institutional investors.

ROST traded up $2.94 during midday trading on Monday, reaching $92.06. The company’s stock had a trading volume of 2,701,796 shares, compared to its average volume of 2,717,756. The firm has a market capitalization of $32.35 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.74 and a beta of 0.92. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. Ross Stores has a 1 year low of $84.44 and a 1 year high of $131.23. The stock’s 50-day moving average is $95.83 and its 200-day moving average is $102.02.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Ross Stores’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.35%. Ross Stores’s dividend payout ratio is 25.51%.

Ross Stores announced that its Board of Directors has initiated a share buyback program on Tuesday, March 1st that permits the company to repurchase $1.90 billion in shares. This repurchase authorization permits the apparel retailer to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Ross Stores (Get Rating)

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. Its stores primarily offer 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 for households with moderate income.

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

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