FY2018 EPS Estimates for Ross Stores, Inc. (ROST) Increased by SunTrust Banks

Ross Stores, Inc. (NASDAQ:ROST) – SunTrust Banks raised their FY2018 earnings per share estimates for shares of Ross Stores in a research note issued to investors on Thursday. SunTrust Banks analyst P. Quintiliano now expects that the apparel retailer will post earnings of $3.30 per share for the year, up from their previous forecast of $3.25. SunTrust Banks currently has a “Buy” rating and a $80.00 price objective on the stock. SunTrust Banks also issued estimates for Ross Stores’ Q4 2018 earnings at $0.94 EPS and FY2019 earnings at $3.57 EPS.

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

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Other equities analysts have also issued reports about the stock. MKM Partners raised their target price on shares of Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Instinet reaffirmed a “buy” rating and set a $74.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Deutsche Bank AG reaffirmed a “buy” rating and set a $75.00 target price on shares of Ross Stores in a research report on Monday, August 21st. Finally, Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.71.

Shares of Ross Stores (NASDAQ:ROST) traded down $0.07 during trading hours on Monday, hitting $72.67. 3,069,300 shares of the stock were exchanged, compared to its average volume of 2,964,253. The stock has a market capitalization of $28,047.97, a price-to-earnings ratio of 23.24, a PEG ratio of 2.22 and a beta of 1.10. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $73.94. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14.

Several large investors have recently bought and sold shares of ROST. Flossbach Von Storch AG lifted its stake in shares of Ross Stores by 7,335.3% during the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after buying an additional 4,933,020 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Ross Stores by 3,501.6% during the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after buying an additional 1,888,715 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Ross Stores by 68.4% during the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock worth $265,834,000 after buying an additional 1,870,314 shares during the period. Nordea Investment Management AB lifted its stake in shares of Ross Stores by 8,982.4% during the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after buying an additional 1,600,027 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Ross Stores by 393.0% during the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after buying an additional 1,254,028 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

In other news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. Ross Stores’s payout ratio is currently 20.45%.

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.

Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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