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

Ross Stores (NASDAQ:ROST) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.000-6.130 for the period, compared to the consensus estimate of 6.010. The company issued revenue guidance of -. Ross Stores also updated its FY25 guidance to $6.00-6.13 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROST. TD Cowen reduced their price objective on Ross Stores from $176.00 to $173.00 and set a buy rating for the company in a report on Friday, August 9th. UBS Group increased their price objective on shares of Ross Stores from $145.00 to $147.00 and gave the company a neutral rating in a research note on Friday, May 24th. Evercore ISI lifted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an outperform rating in a research report on Friday, May 24th. StockNews.com upgraded shares of Ross Stores from a hold rating to a buy rating in a research report on Thursday, July 11th. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $160.00 target price on shares of Ross Stores in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Ross Stores has an average rating of Moderate Buy and an average target price of $161.13.

Ross Stores Stock Down 0.9 %

NASDAQ ROST traded down $1.43 on Thursday, reaching $152.52. The company had a trading volume of 3,090,318 shares, compared to its average volume of 2,223,601. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores has a 1 year low of $108.35 and a 1 year high of $157.85. The firm has a 50-day moving average of $145.21 and a 200-day moving average of $142.25. The firm has a market capitalization of $50.88 billion, a PE ratio of 25.72, a P/E/G ratio of 2.17 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Ross Stores will post 5.97 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Transactions at Ross Stores

In other news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now owns 973 shares in the company, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.