Zacks: Brokerages Anticipate Ross Stores (ROST) to Post $1.06 Earnings Per Share

Wall Street analysts forecast that Ross Stores (NASDAQ:ROST) will announce earnings of $1.06 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ross Stores’ earnings, with the lowest EPS estimate coming in at $1.04 and the highest estimate coming in at $1.09. Ross Stores reported earnings of $0.82 per share in the same quarter last year, which would suggest a positive year over year growth rate of 29.3%. The business is expected to issue its next earnings results after the market closes on Thursday, May 24th.

According to Zacks, analysts expect that Ross Stores will report full-year earnings of $4.03 per share for the current year, with EPS estimates ranging from $3.94 to $4.20. For the next financial year, analysts anticipate that the firm will post earnings of $4.45 per share, with EPS estimates ranging from $4.22 to $4.70. Zacks Investment Research’s EPS calculations are an average based on a survey of 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 firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%.

A number of research analysts have recently commented on ROST shares. SunTrust Banks restated a “buy” rating on shares of Ross Stores in a report on Friday, February 2nd. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Cowen set a $85.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Bank of America set a $94.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Finally, Susquehanna Bancshares set a $95.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Ross Stores has an average rating of “Buy” and a consensus price target of $81.95.

NASDAQ ROST opened at $82.47 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $31.57 billion, a PE ratio of 24.69, a P/E/G ratio of 2.07 and a beta of 1.06. Ross Stores has a 12 month low of $52.85 and a 12 month high of $85.66.

Ross Stores announced that its board has approved a stock buyback plan on Tuesday, March 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

In other Ross Stores news, Director Sharon D. Garrett sold 26,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $77.07, for a total transaction of $2,003,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Balmuth sold 59,777 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,652 shares of company stock valued at $19,829,016. Insiders own 2.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Ross Stores by 0.6% during the first quarter. BlackRock Inc. now owns 26,549,467 shares of the apparel retailer’s stock valued at $2,070,327,000 after buying an additional 154,064 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Ross Stores by 0.4% during the first quarter. Franklin Resources Inc. now owns 6,023,816 shares of the apparel retailer’s stock valued at $469,737,000 after buying an additional 24,217 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Ross Stores by 63.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock valued at $437,885,000 after buying an additional 2,117,771 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt lifted its position in shares of Ross Stores by 2.6% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,720,000 shares of the apparel retailer’s stock valued at $367,782,000 after buying an additional 120,000 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Ross Stores by 35.2% during the first quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock valued at $241,842,000 after buying an additional 807,366 shares during the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.

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 brands 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 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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