Wall Street analysts expect that Ross Stores (NASDAQ:ROST) will post sales of $3.53 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ross Stores’ earnings, with estimates ranging from $3.46 billion to $3.57 billion. Ross Stores posted sales of $3.31 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The business is expected to announce its next earnings results on Thursday, May 17th.
According to Zacks, analysts expect that Ross Stores will report full year sales of $14.79 billion for the current financial year, with estimates ranging from $14.70 billion to $14.98 billion. For the next financial year, analysts forecast that the company will post sales of $15.64 billion per share, with estimates ranging from $15.33 billion to $16.02 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Ross Stores.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%.
A number of analysts have recently issued reports on the company. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Nomura reaffirmed 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. Royal Bank of Canada set a $82.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Bank of America set a $94.00 price target on Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 price target on shares of Ross Stores in a research note on Wednesday, March 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Ross Stores presently has a consensus rating of “Buy” and a consensus target price of $81.86.
In other Ross Stores news, CEO Barbara Rentler sold 32,430 shares of Ross Stores stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $79.53, for a total value of $2,579,157.90. Following the sale, the chief executive officer now owns 534,318 shares in the company, valued at $42,494,310.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa R. Panattoni sold 12,471 shares of Ross Stores stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $79.48, for a total value of $991,195.08. Following the completion of the sale, the insider now owns 93,711 shares in the company, valued at approximately $7,448,150.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 256,652 shares of company stock worth $19,829,016. 2.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ROST. Dimensional Fund Advisors LP raised its position in Ross Stores by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,135,198 shares of the apparel retailer’s stock valued at $73,301,000 after purchasing an additional 16,397 shares during the period. Neuberger Berman Group LLC raised its position in Ross Stores by 0.8% in the third quarter. Neuberger Berman Group LLC now owns 401,156 shares of the apparel retailer’s stock valued at $25,903,000 after purchasing an additional 3,212 shares during the period. Parametric Portfolio Associates LLC raised its position in Ross Stores by 51.6% in the third quarter. Parametric Portfolio Associates LLC now owns 1,473,245 shares of the apparel retailer’s stock valued at $95,127,000 after purchasing an additional 501,505 shares during the period. Aurora Investment Counsel purchased a new stake in Ross Stores in the fourth quarter valued at $1,999,000. Finally, Sit Investment Associates Inc. raised its position in Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after purchasing an additional 1,365 shares during the period. Institutional investors own 90.51% of the company’s stock.
Shares of NASDAQ:ROST traded up $0.82 during trading on Monday, reaching $78.14. The stock had a trading volume of 2,088,858 shares, compared to its average volume of 2,641,384. 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 has a market capitalization of $29,275.87, a PE ratio of 23.40, a P/E/G ratio of 1.91 and a beta of 1.07. Ross Stores has a 1-year low of $52.85 and a 1-year high of $85.66.
Ross Stores declared that its Board of Directors has approved a share buyback program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 19th were given a dividend of $0.225 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.90 dividend on an annualized basis and a yield of 1.15%. Ross Stores’s dividend payout ratio (DPR) is presently 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 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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