In its upcoming report, Ross Stores (ROST) is predicted by Wall Street analysts to post quarterly earnings of $1.52 per share, reflecting a decline of 4.4% compared to the same period last year. Revenues are forecasted to be $5.53 billion, representing a year-over-year increase of 4.6%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Ross Stores metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Comparable store sales - YoY change' at 1.7%. Compared to the present estimate, the company reported 4.0% in the same quarter last year.
The combined assessment of analysts suggests that 'Store count at end of period' will likely reach 2,234 . The estimate is in contrast to the year-ago figure of 2,148 .
Analysts expect 'Number of stores opened' to come in at 31 . Compared to the present estimate, the company reported 24 in the same quarter last year.
View all Key Company Metrics for Ross Stores here>>>
Over the past month, shares of Ross Stores have returned +13.1% versus the Zacks S&P 500 composite's +3.5% change. Currently, ROST carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ross Stores, Inc. (ROST): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
