Equities research analysts expect Ross Stores, Inc. (NASDAQ:ROST) to post $3.80 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Ross Stores’ earnings. The highest sales estimate is $3.83 billion and the lowest is $3.77 billion. Ross Stores posted sales of $3.59 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The company is expected to issue its next earnings results on Thursday, May 23rd.
According to Zacks, analysts expect that Ross Stores will report full-year sales of $15.89 billion for the current year, with estimates ranging from $15.81 billion to $16.05 billion. For the next fiscal year, analysts anticipate that the business will report sales of $16.86 billion, with estimates ranging from $16.66 billion to $17.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ross Stores.
Several equities research analysts have recently weighed in on the company. ValuEngine raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Morgan Stanley decreased their price target on Ross Stores from $99.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday, November 23rd. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. DA Davidson boosted their price target on Ross Stores to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.42.
In other Ross Stores news, Chairman Michael Balmuth sold 25,689 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the sale, the chairman now directly owns 51,998 shares of the company’s stock, valued at approximately $4,719,858.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in ROST. Bollard Group LLC bought a new position in Ross Stores in the 4th quarter valued at approximately $25,000. CI Investments Inc. acquired a new stake in shares of Ross Stores during the fourth quarter worth $26,000. Athena Capital Advisors LLC acquired a new stake in Ross Stores in the fourth quarter worth $29,000. Moody National Bank Trust Division acquired a new stake in Ross Stores in the fourth quarter worth $30,000. Finally, Berman Capital Advisors LLC acquired a new position in shares of Ross Stores during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Shares of NASDAQ ROST traded down $0.36 during mid-day trading on Tuesday, reaching $88.88. 88,079 shares of the company’s stock were exchanged, compared to its average volume of 2,407,408. The stock has a market cap of $33.78 billion, a PE ratio of 20.88, a P/E/G ratio of 1.96 and a beta of 0.90. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Ross Stores has a 52-week low of $74.53 and a 52-week high of $104.35.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be issued a $0.255 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $1.02 annualized dividend and a dividend yield of 1.15%. Ross Stores’s payout ratio is 21.13%.
Ross Stores announced that its board has approved a stock repurchase plan on Tuesday, March 5th that authorizes the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Ross Stores Company Profile
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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