Analysts Expect Ross Stores, Inc. (NASDAQ:ROST) to Post $0.95 EPS

Wall Street analysts expect Ross Stores, Inc. (NASDAQ:ROST) to report earnings of $0.95 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Ross Stores’ earnings, with the lowest EPS estimate coming in at $0.89 and the highest estimate coming in at $1.05. Ross Stores posted earnings per share of ($0.13) in the same quarter last year, which would indicate a positive year over year growth rate of 830.8%. The company is expected to announce its next quarterly earnings report on Thursday, August 19th.

On average, analysts expect that Ross Stores will report full year earnings of $4.32 per share for the current fiscal year, with EPS estimates ranging from $4.10 to $4.68. For the next financial year, analysts expect that the company will post earnings of $5.27 per share, with EPS estimates ranging from $5.00 to $5.53. Zacks’ EPS calculations are an average based on a survey of research firms that follow Ross Stores.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Wednesday, May 19th. The apparel retailer reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.44. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $3.80 billion. Ross Stores had a return on equity of 32.44% and a net margin of 5.71%. The firm’s quarterly revenue was up 145.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) earnings per share.

A number of equities research analysts have weighed in on the company. Wedbush reiterated a “neutral” rating on shares of Ross Stores in a report on Tuesday, May 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Ross Stores from $133.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, May 21st. Royal Bank of Canada lifted their target price on Ross Stores from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 21st. Telsey Advisory Group lifted their target price on Ross Stores from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, May 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Ross Stores from $127.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, May 21st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $131.43.

In other Ross Stores news, CEO Barbara Rentler sold 45,623 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $123.73, for a total value of $5,644,933.79. Following the transaction, the chief executive officer now owns 311,526 shares of the company’s stock, valued at $38,545,111.98. 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 5,351 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $122.00, for a total value of $652,822.00. Following the completion of the transaction, the chief marketing officer now directly owns 106,437 shares in the company, valued at approximately $12,985,314. The disclosure for this sale can be found here. Insiders have sold 203,092 shares of company stock valued at $25,150,471 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Legacy Wealth Asset Management LLC boosted its position in Ross Stores by 1.2% in the first quarter. Legacy Wealth Asset Management LLC now owns 6,835 shares of the apparel retailer’s stock worth $820,000 after purchasing an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Ross Stores by 11.0% in the first quarter. Prestige Wealth Management Group LLC now owns 878 shares of the apparel retailer’s stock worth $105,000 after purchasing an additional 87 shares during the last quarter. Regentatlantic Capital LLC lifted its position in shares of Ross Stores by 4.0% during the 4th quarter. Regentatlantic Capital LLC now owns 2,494 shares of the apparel retailer’s stock valued at $306,000 after buying an additional 95 shares during the last quarter. CAPROCK Group Inc. lifted its position in shares of Ross Stores by 4.7% during the 1st quarter. CAPROCK Group Inc. now owns 2,134 shares of the apparel retailer’s stock valued at $256,000 after buying an additional 96 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its position in shares of Ross Stores by 14.2% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 794 shares of the apparel retailer’s stock valued at $96,000 after buying an additional 99 shares during the last quarter. 83.98% of the stock is currently owned by institutional investors and hedge funds.

ROST stock traded down $2.12 during mid-day trading on Thursday, reaching $117.97. The company’s stock had a trading volume of 4,707,525 shares, compared to its average volume of 2,089,275. The company has a market capitalization of $42.07 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The business’s 50 day moving average price is $126.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.33 and a current ratio of 1.72. Ross Stores has a 12 month low of $79.65 and a 12 month high of $134.21.

Ross Stores announced that its Board of Directors has initiated a stock buyback program on Thursday, May 20th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the apparel retailer to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 8th will be issued a dividend of $0.285 per share. The ex-dividend date is Monday, June 7th. This represents a $1.14 annualized dividend and a yield of 0.97%. Ross Stores’s dividend payout ratio (DPR) is currently 97.44%.

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. 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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