Ross Stores (ROST) Set to Announce Earnings on Thursday

Ross Stores (NASDAQ:ROST) is scheduled to release its earnings data after the market closes on Thursday, November 16th. Analysts expect Ross Stores to post earnings of $1.21 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.16. Ross Stores had a return on equity of 37.36% and a net margin of 8.36%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the company earned $1.11 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts expect Ross Stores to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Ross Stores Stock Down 0.3 %

NASDAQ:ROST opened at $122.79 on Thursday. Ross Stores has a 12-month low of $91.08 and a 12-month high of $123.65. The company has a quick ratio of 1.25, a current ratio of 1.83 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $41.83 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.02 and a beta of 1.00. The stock’s fifty day simple moving average is $115.98 and its 200-day simple moving average is $111.52.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th were paid a $0.335 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $1.34 annualized dividend and a yield of 1.09%. Ross Stores’s dividend payout ratio is 28.39%.

Wall Street Analyst Weigh In

ROST has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price target on Ross Stores from $113.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 18th. Morgan Stanley lifted their target price on shares of Ross Stores from $130.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. Loop Capital lifted their target price on shares of Ross Stores from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Bank of America lifted their target price on shares of Ross Stores from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Barclays lifted their price target on shares of Ross Stores from $122.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.33.

Insider Buying and Selling

In other news, CMO Brian R. Morrow sold 25,945 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $121.53, for a total transaction of $3,153,095.85. Following the completion of the sale, the chief marketing officer now owns 67,033 shares in the company, valued at approximately $8,146,520.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael K. Kobayashi sold 20,749 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $111.73, for a total value of $2,318,285.77. Following the completion of the sale, the insider now owns 71,413 shares in the company, valued at approximately $7,978,974.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Brian R. Morrow sold 25,945 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $121.53, for a total transaction of $3,153,095.85. Following the completion of the transaction, the chief marketing officer now directly owns 67,033 shares in the company, valued at $8,146,520.49. The disclosure for this sale can be found here. Insiders sold 89,948 shares of company stock worth $10,643,727 over the last 90 days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Ross Stores

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Ross Stores in the 4th quarter worth about $369,081,000. Morgan Stanley grew its position in Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after acquiring an additional 2,173,922 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ross Stores by 21.0% during the first quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock worth $640,624,000 after purchasing an additional 1,048,817 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Ross Stores by 14.1% during the second quarter. Goldman Sachs Group Inc. now owns 5,355,761 shares of the apparel retailer’s stock worth $600,541,000 after purchasing an additional 662,825 shares during the last quarter. Finally, Steadfast Capital Management LP bought a new stake in Ross Stores in the first quarter valued at $64,833,000. 84.79% 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 brand names in the United States. 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.