Ross Stores, Inc. (ROST) Expected to Post Quarterly Sales of $3.95 Billion

Wall Street brokerages expect Ross Stores, Inc. (NASDAQ:ROST) to report sales of $3.95 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for Ross Stores’ earnings, with estimates ranging from $3.88 billion to $4.02 billion. Ross Stores posted sales of $3.51 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, March 6th.

On average, analysts expect that Ross Stores will report full-year sales of $3.95 billion for the current year, with estimates ranging from $13.95 billion to $14.08 billion. For the next financial year, analysts expect that the company will post sales of $14.61 billion per share, with estimates ranging from $14.40 billion to $14.86 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Ross Stores.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.67 by $0.05. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS.

Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. SunTrust Banks reissued a “buy” rating on shares of Ross Stores in a research report on Friday, February 2nd. Nomura reissued a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of Ross Stores in a research report on Wednesday, January 17th. Cowen set a $78.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research report on Saturday, November 18th. Finally, Jefferies Group set a $66.00 price objective on shares of Ross Stores and gave the company a “hold” rating in a research report on Saturday, November 18th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $73.90.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in Ross Stores during the fourth quarter valued at approximately $132,000. Balentine LLC lifted its position in Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after acquiring an additional 5 shares during the last quarter. Sit Investment Associates Inc. lifted its position in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after acquiring an additional 1,365 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Ross Stores during the fourth quarter valued at approximately $159,000. Finally, Zions Bancorporation lifted its position in Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after acquiring an additional 1,637 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores (NASDAQ:ROST) traded up $0.03 during trading on Wednesday, reaching $77.35. 2,300,000 shares of the company’s stock traded hands, compared to its average volume of 2,410,000. The stock has a market cap of $29,560.00, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57. Ross Stores has a 12 month low of $52.85 and a 12 month high of $85.66.

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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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