$1.12 Earnings Per Share Expected for Ross Stores, Inc. (NASDAQ:ROST) This Quarter

Wall Street analysts forecast that Ross Stores, Inc. (NASDAQ:ROST) will report $1.12 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have made estimates for Ross Stores’ earnings. The lowest EPS estimate is $1.11 and the highest is $1.14. Ross Stores posted earnings of $1.04 per share in the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 22nd.

According to Zacks, analysts expect that Ross Stores will report full-year earnings of $4.51 per share for the current financial year, with EPS estimates ranging from $4.44 to $4.55. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.95 per share, with EPS estimates ranging from $4.75 to $5.11. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ross Stores.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year.

A number of research firms have recently issued reports on ROST. Guggenheim reiterated a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a report on Friday, May 24th. BidaskClub upgraded Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Loop Capital upgraded Ross Stores to a “buy” rating and set a $120.00 price objective for the company in a report on Friday, August 16th. Finally, Telsey Advisory Group cut Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price objective for the company. in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $99.95.

In related news, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $99.16, for a total value of $3,966,400.00. Following the sale, the chief executive officer now owns 473,922 shares of the company’s stock, valued at $46,994,105.52. The disclosure for this sale can be found here. Insiders have sold a total of 296,287 shares of company stock valued at $29,806,735 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ROST. TrinityPoint Wealth LLC lifted its holdings in Ross Stores by 4.0% in the 2nd quarter. TrinityPoint Wealth LLC now owns 2,619 shares of the apparel retailer’s stock worth $277,000 after buying an additional 101 shares during the period. ETF Managers Group LLC lifted its holdings in Ross Stores by 6.0% in the 2nd quarter. ETF Managers Group LLC now owns 1,955 shares of the apparel retailer’s stock worth $197,000 after buying an additional 111 shares during the period. Wetherby Asset Management Inc. lifted its holdings in Ross Stores by 1.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 11,353 shares of the apparel retailer’s stock worth $1,057,000 after buying an additional 114 shares during the period. Cetera Advisor Networks LLC lifted its holdings in Ross Stores by 0.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 13,143 shares of the apparel retailer’s stock worth $1,225,000 after buying an additional 116 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in Ross Stores by 2.5% in the 2nd quarter. Wedbush Securities Inc. now owns 4,779 shares of the apparel retailer’s stock worth $474,000 after buying an additional 118 shares during the period. Institutional investors own 88.16% of the company’s stock.

Shares of ROST traded up $0.26 during midday trading on Friday, reaching $105.96. The stock had a trading volume of 82,149 shares, compared to its average volume of 1,663,945. The company’s 50-day moving average is $104.48 and its 200 day moving average is $97.89. Ross Stores has a 12-month low of $75.91 and a 12-month high of $108.20. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $37.96 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89.

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. Its stores 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.

Further Reading: Oversold

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.