Ross Stores Inc. (ROST) Expected to Post FY2017 Earnings of $2.82 Per Share
Ross Stores Inc. (NASDAQ:ROST) – Equities researchers at SunTrust Banks raised their FY2017 EPS estimates for shares of Ross Stores in a research note issued to investors on Friday. SunTrust Banks analyst P. Quintiliano now forecasts that the firm will earn $2.82 per share for the year, up from their prior forecast of $2.77. SunTrust Banks currently has a “Buy” rating and a $75.00 price target on the stock.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The business earned $3.10 billion during the quarter. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS.
Other analysts have also recently issued reports about the company. Cowen and Company set a $74.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Saturday. BMO Capital Markets reaffirmed a “hold” rating on shares of Ross Stores in a report on Saturday. Telsey Advisory Group raised their price objective on Ross Stores from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday. Vetr raised Ross Stores from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Ross Stores 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 fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.52.
Shares of Ross Stores (NASDAQ:ROST) traded up 2.451% during trading on Monday, hitting $69.595. The stock had a trading volume of 2,275,307 shares. The stock’s 50-day moving average is $63.70 and its 200-day moving average is $60.07. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 26.492 and a beta of 0.94. Ross Stores has a 12-month low of $49.06 and a 12-month high of $69.78.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 7th will be issued a $0.135 dividend. The ex-dividend date is Monday, December 5th. This represents a $0.54 dividend on an annualized basis and a yield of 0.79%. Ross Stores’s dividend payout ratio is currently 19.85%.
In related news, Director Gregory L. Quesnel sold 16,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $64.39, for a total transaction of $1,030,240.00. Following the sale, the director now owns 19,370 shares in the company, valued at $1,247,234.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 12,840 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $63.76, for a total transaction of $818,678.40. Following the sale, the chief executive officer now owns 542,851 shares in the company, valued at approximately $34,612,179.76. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its stake in Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 435 shares during the period. Parkside Financial Bank & Trust boosted its position in Ross Stores by 0.3% in the third quarter. Parkside Financial Bank & Trust now owns 1,792 shares of the apparel retailer’s stock valued at $115,000 after buying an additional 6 shares during the period. Baldwin Brothers Inc. MA purchased a new position in Ross Stores during the third quarter valued at approximately $120,000. Sandy Spring Bank boosted its position in Ross Stores by 190.3% in the third quarter. Sandy Spring Bank now owns 2,032 shares of the apparel retailer’s stock valued at $131,000 after buying an additional 1,332 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock valued at $147,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
Ross Stores Company Profile
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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