Ross Stores Inc. (ROST) Scheduled to Post Quarterly Earnings on Thursday
Ross Stores Inc. (NASDAQ:ROST) is set to issue its quarterly earnings data after the market closes on Thursday, November 17th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Ross Stores has set its Q3 guidance at $0.52-0.55 EPS and its FY17 guidance at $2.69-2.75 EPS.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. Ross Stores’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. On average, analysts expect Ross Stores to post $2.75 EPS for the current fiscal year and $3.06 EPS for the next fiscal year.
Ross Stores Inc. (NASDAQ:ROST) opened at 63.60 on Tuesday. Ross Stores Inc. has a 1-year low of $45.01 and a 1-year high of $66.28. The firm has a 50-day moving average of $63.45 and a 200-day moving average of $59.76. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 24.21 and a beta of 0.94.
A number of research firms recently weighed in on ROST. Royal Bank Of Canada raised their price target on shares of Ross Stores from $56.00 to $65.00 and gave the company a “sector perform” rating in a report on Friday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Ross Stores from $51.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 19th. Wedbush raised their price target on shares of Ross Stores from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Ross Stores in a report on Friday, August 19th. Finally, Deutsche Bank AG raised their price target on shares of Ross Stores from $65.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.25.
In other news, CEO Barbara Rentler sold 12,840 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.76, for a total value of $818,678.40. Following the transaction, the chief executive officer now directly owns 542,851 shares of the company’s stock, valued at $34,612,179.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Quesnel sold 16,000 shares of Ross Stores stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total transaction of $1,030,240.00. Following the completion of the transaction, the director now directly owns 19,370 shares in the company, valued at $1,247,234.30. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Citizens Financial Group Inc RI increased its position in Ross Stores by 47.8% in the second quarter. Citizens Financial Group Inc RI now owns 4,046 shares of the apparel retailer’s stock valued at $229,000 after buying an additional 1,309 shares during the period. Ingalls & Snyder LLC purchased a new position in Ross Stores during the second quarter valued at $237,000. Summit Securities Group LLC purchased a new position in Ross Stores during the second quarter valued at $237,000. Zacks Investment Management purchased a new position in Ross Stores during the second quarter valued at $288,000. Finally, Wetherby Asset Management Inc. increased its position in Ross Stores by 1.8% in the second quarter. Wetherby Asset Management Inc. now owns 7,661 shares of the apparel retailer’s stock valued at $435,000 after buying an additional 135 shares during the period. 89.27% of the stock is currently owned by institutional investors and hedge funds.
About Ross Stores
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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