Revenue Update on Ross Stores(NASDAQ:ROST)

Ross Stores(NASDAQ:ROST) announced the earnings results for Fiscal Year 2017 and Q3. The results came in during After-hours on Nov 17, 2016. Company reported revenue of $3.09B. Analysts estimated a revenue of $2.96B. The revenues were $127.00M or 4.29% above the estimates. Earnings per share were $0.62. The reported EPS was above estimates by $0.06 or 10.71%. Analysts had estimated an EPS of $0.56.

In a different note, Guggenheim Securities said it Initiates Coverage on Ross Stores, according to a research note issued on Sep 30, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 22, 2016, Citigroup said it Maintains its rating on Ross Stores. In the research note, the firm Raises the price-target to $65.00 per share. The shares have been rated ‘Buy’ by the firm.

Ross Stores (ROST) made into the market gainers list on Mondays trading session with the shares advancing 3.77% or 2.47 points. Due to strong positive momentum, the stock ended at $68, which is also near the day’s high of $68.84. The stock began the session at $67.72 and the volume stood at 69,99,124 shares. The 52-week high of the shares is $68.84 and the 52 week low is $45.01. The company has a current market capitalization of $26,967 M and it has 39,65,79,810 shares in outstanding.

Ross Stores has also declared a cash dividend of $0.1350 on Nov 16, 2016. The shares will quote ex-dividend on Dec 5, 2016 and the record date has been fixed on Dec 7, 2016. The dividend payable date has been fixed on Dec 30, 2016.

Several Insider Transactions has been reported to the SEC. On Oct 5, 2016, Gregory L Quesnel (director) sold 16,000 shares at $64.39 per share price.Also, On Sep 26, 2016, James S Fassio (President, Chief Dev. Officer) sold 12,000 shares at $63.35 per share price.On Sep 26, 2016, Barbara Rentler (Chief Executive Officer) sold 12,840 shares at $63.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Ross Stores Inc. is an off-price retailer of name brand and designer apparel accessories footwear and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31 2014 the Company operated 1210 Ross locations in 33 states the District of Columbia and Guam and 152 dd’s DISCOUNTS stores in 15 states. The Ross and dd’s DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross’ target customers are primarily from middle income households. The dd’s DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.

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