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Wall Street's Insights Into Key Metrics Ahead of Ross Stores (ROST) Q2 Earnings
In its upcoming report, Ross Stores (ROST - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.49 per share, reflecting an increase of 12.9% compared to the same period last year. Revenues are forecasted to be $5.25 billion, representing a year-over-year increase of 6.3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Ross Stores metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Comparable store sales - YoY change' to reach 2.7%. The estimate is in contrast to the year-ago figure of 5%.
According to the collective judgment of analysts, 'Store count at end of period' should come in at 2,151. Compared to the current estimate, the company reported 2,061 in the same quarter of the previous year.
Analysts' assessment points toward 'Number of stores opened' reaching 24. Compared to the current estimate, the company reported 27 in the same quarter of the previous year.
View all Key Company Metrics for Ross Stores here>>>
Over the past month, Ross Stores shares have recorded returns of +2.7% versus the Zacks S&P 500 composite's -1.9% change. Based on its Zacks Rank #3 (Hold), ROST will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>