Wedbush Equities Analysts Reduce Earnings Estimates for Ross Stores, Inc. (ROST)

Ross Stores, Inc. (NASDAQ:ROST) – Analysts at Wedbush dropped their Q1 2020 earnings estimates for Ross Stores in a report released on Wednesday, February 13th. Wedbush analyst J. Redding now anticipates that the apparel retailer will earn $1.17 per share for the quarter, down from their prior forecast of $1.21. Wedbush also issued estimates for Ross Stores’ Q2 2020 earnings at $1.13 EPS, Q4 2020 earnings at $1.20 EPS and FY2020 earnings at $4.49 EPS.

Several other equities research analysts have also recently weighed in on the stock. BidaskClub raised shares of Ross Stores from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. Citigroup lowered their price target on shares of Ross Stores from $98.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, November 21st. Loop Capital increased their target price on shares of Ross Stores to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Wells Fargo & Co reissued a “buy” rating on shares of Ross Stores in a research report on Tuesday, November 20th. Finally, DA Davidson decreased their target price on shares of Ross Stores to $84.00 and set an “average” rating for the company in a research report on Wednesday, November 21st. Twelve analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $95.92.

Shares of ROST opened at $94.64 on Thursday. Ross Stores has a fifty-two week low of $73.76 and a fifty-two week high of $104.35. The company has a market capitalization of $35.12 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.61 and a quick ratio of 0.73.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, November 20th. The apparel retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Ross Stores had a net margin of 10.68% and a return on equity of 48.34%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The company’s revenue was up 6.6% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bollard Group LLC acquired a new stake in shares of Ross Stores in the fourth quarter worth $25,000. Athena Capital Advisors LLC acquired a new stake in shares of Ross Stores in the fourth quarter worth $29,000. Moody National Bank Trust Division acquired a new stake in shares of Ross Stores in the fourth quarter worth $30,000. Berman Capital Advisors LLC acquired a new stake in shares of Ross Stores in the fourth quarter worth $32,000. Finally, Legacy Financial Advisors Inc. increased its stake in shares of Ross Stores by 114.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 413 shares of the apparel retailer’s stock worth $34,000 after acquiring an additional 220 shares during the period. 92.27% of the stock is owned by institutional investors and hedge funds.

About Ross Stores

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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

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