Ross Stores, Inc. (NASDAQ:ROST) Expected to Announce Quarterly Sales of $4.53 Billion

Equities research analysts expect Ross Stores, Inc. (NASDAQ:ROSTGet Rating) to announce $4.53 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Ross Stores’ earnings. The lowest sales estimate is $4.47 billion and the highest is $4.57 billion. Ross Stores reported sales of $4.52 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ross Stores will report full-year sales of $19.85 billion for the current financial year, with estimates ranging from $19.75 billion to $19.93 billion. For the next year, analysts expect that the firm will post sales of $21.06 billion, with estimates ranging from $20.81 billion to $21.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Ross Stores.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its earnings results on Tuesday, March 1st. The apparel retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.95 billion. Ross Stores had a net margin of 9.11% and a return on equity of 44.17%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS.

Several analysts have commented on ROST shares. Truist Financial dropped their target price on shares of Ross Stores from $136.00 to $122.00 in a report on Friday, February 18th. Credit Suisse Group raised their price target 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. Morgan Stanley decreased their target price on shares of Ross Stores from $140.00 to $137.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. decreased their target price on shares of Ross Stores from $137.00 to $125.00 in a research note on Thursday, February 17th. Finally, Gordon Haskett cut shares of Ross Stores from an “accumulate” rating to a “hold” rating and decreased their target price for the company from $130.00 to $106.00 in a research note on Thursday, February 10th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $123.06.

A number of hedge funds have recently bought and sold shares of the stock. Equitec Proprietary Markets LLC bought a new position in shares of Ross Stores in the 4th quarter valued at $26,000. Zullo Investment Group Inc. acquired a new stake in shares of Ross Stores during the fourth quarter valued at about $30,000. Clearview Wealth Advisors LLC grew its holdings in shares of Ross Stores by 48.3% during the third quarter. Clearview Wealth Advisors LLC now owns 307 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Kozak & Associates Inc. bought a new stake in shares of Ross Stores during the third quarter worth about $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ross Stores in the third quarter valued at approximately $46,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Shares of ROST stock opened at $103.08 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.77. The company has a market capitalization of $36.22 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07. The company’s 50 day moving average price is $92.98 and its two-hundred day moving average price is $103.20. Ross Stores has a 52 week low of $84.44 and a 52 week high of $134.21.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, March 14th. This is an increase from Ross Stores’s previous quarterly dividend of $0.29. Ross Stores’s payout ratio is 25.51%.

Ross Stores declared that its board has approved a share buyback plan on Tuesday, March 1st that authorizes the company to repurchase $1.90 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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 brands. 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 regular prices to customers from households with moderate income.

Further Reading

Get a free copy of the Zacks research report on Ross Stores (ROST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.