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.
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