Zacks: Brokerages Anticipate Ross Stores, Inc. (NASDAQ:ROST) Will Post Earnings of $0.99 Per Share

Wall Street analysts expect that Ross Stores, Inc. (NASDAQ:ROSTGet Rating) will post earnings of $0.99 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Ross Stores’ earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.96. Ross Stores posted earnings per share of $1.34 in the same quarter last year, which would indicate a negative year-over-year growth rate of 26.1%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Ross Stores will report full-year earnings of $5.06 per share for the current financial year, with EPS estimates ranging from $4.93 to $5.15. For the next financial year, analysts forecast that the company will post earnings of $5.65 per share, with EPS estimates ranging from $5.45 to $5.76. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Ross Stores.

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

A number of brokerages recently issued reports on ROST. Robert W. Baird lowered their price target on Ross Stores from $148.00 to $115.00 in a research report on Wednesday, March 2nd. Wells Fargo & Company reduced their target price on Ross Stores from $110.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Ross Stores from $128.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Cowen reduced their target price on 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. Finally, Citigroup reduced their target price on Ross Stores from $134.00 to $125.00 in a research note on Wednesday, March 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $123.06.

Shares of ROST opened at $104.49 on Friday. The company has a market cap of $36.72 billion, a PE ratio of 21.50, a P/E/G ratio of 2.04 and a beta of 1.07. The business has a fifty day moving average of $93.16 and a 200 day moving average of $103.15. Ross Stores has a 52-week low of $84.44 and a 52-week high of $134.21. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.60.

Ross Stores declared that its board has initiated a stock repurchase plan on Tuesday, March 1st that authorizes the company to repurchase $1.90 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.29. Ross Stores’s payout ratio is 25.51%.

A number of institutional investors and hedge funds have recently bought and sold shares of ROST. Norges Bank purchased a new position in Ross Stores in the fourth quarter valued at about $399,510,000. EdgePoint Investment Group Inc. acquired a new stake in Ross Stores in the fourth quarter worth about $287,967,000. Findlay Park Partners LLP acquired a new stake in Ross Stores in the third quarter worth about $262,655,000. JPMorgan Chase & Co. boosted its holdings in Ross Stores by 93.3% in the fourth quarter. JPMorgan Chase & Co. now owns 4,865,310 shares of the apparel retailer’s stock worth $556,007,000 after acquiring an additional 2,348,436 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Ross Stores by 89.8% in the third quarter. Nordea Investment Management AB now owns 2,066,782 shares of the apparel retailer’s stock worth $231,893,000 after acquiring an additional 978,105 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Ross Stores Company Profile (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.

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