Ross Stores (NASDAQ:ROST) Releases FY 2024 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.100-6.170 for the period, compared to the consensus EPS estimate of 6.140. The company issued revenue guidance of -. Ross Stores also updated its FY25 guidance to $6.10-$6.17 EPS.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research note on Monday. Loop Capital increased their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen dropped their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Ross Stores Stock Up 2.6 %

Ross Stores stock traded up $3.64 during mid-day trading on Thursday, hitting $142.96. The company had a trading volume of 5,541,199 shares, compared to its average volume of 2,294,072. The business has a fifty day moving average of $145.52 and a 200 day moving average of $144.44. Ross Stores has a 1 year low of $127.53 and a 1 year high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock has a market cap of $47.43 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.34 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, sell-side analysts expect that Ross Stores will post 6.11 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.3675 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 1.03%. Ross Stores’s dividend payout ratio is currently 23.71%.

Insider Activity at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,138 shares of company stock worth $11,093,051 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Ross Stores Company Profile

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.