FY2018 Earnings Estimate for Ross Stores, Inc. (ROST) Issued By Northcoast Research
Ross Stores, Inc. (NASDAQ:ROST) – Equities research analysts at Northcoast Research boosted their FY2018 earnings per share (EPS) estimates for Ross Stores in a report issued on Friday. Northcoast Research analyst N. Mitchell now forecasts that the apparel retailer will post earnings of $3.21 per share for the year, up from their prior forecast of $3.15. Northcoast Research also issued estimates for Ross Stores’ FY2019 earnings at $3.33 EPS.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. WARNING: “FY2018 Earnings Estimate for Ross Stores, Inc. (ROST) Issued By Northcoast Research” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/21/fy2018-earnings-estimate-for-ross-stores-inc-rost-issued-by-northcoast-research.html.
ROST has been the topic of several other research reports. BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Morgan Stanley reiterated an “overweight” rating and issued a $69.00 target price on shares of Ross Stores in a research note on Monday, May 22nd. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Friday, July 14th. They noted that the move was a valuation call. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $64.00 target price (down previously from $70.00) on shares of Ross Stores in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.11.
Ross Stores (ROST) opened at 59.02 on Monday. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81. The company has a 50-day moving average of $55.18 and a 200-day moving average of $62.10. The company has a market cap of $22.61 billion, a PE ratio of 19.49 and a beta of 1.10.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Wednesday, September 6th. Ross Stores’s dividend payout ratio (DPR) is 21.12%.
In related news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. DnB Asset Management AS increased its stake in Ross Stores by 16.0% in the first quarter. DnB Asset Management AS now owns 48,580 shares of the apparel retailer’s stock worth $3,200,000 after buying an additional 6,700 shares during the period. Huntington National Bank increased its stake in Ross Stores by 1.0% in the first quarter. Huntington National Bank now owns 20,129 shares of the apparel retailer’s stock worth $1,325,000 after buying an additional 197 shares during the period. State of Alaska Department of Revenue increased its stake in Ross Stores by 68.6% in the first quarter. State of Alaska Department of Revenue now owns 5,519 shares of the apparel retailer’s stock worth $362,000 after buying an additional 2,246 shares during the period. Retirement Systems of Alabama increased its stake in Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock worth $12,549,000 after buying an additional 2,542 shares during the period. Finally, Nationwide Fund Advisors increased its stake in Ross Stores by 37.0% in the first quarter. Nationwide Fund Advisors now owns 676,207 shares of the apparel retailer’s stock worth $44,542,000 after buying an additional 182,502 shares during the period. 90.20% of the stock is owned by hedge funds and other institutional investors.
About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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