Ross Stores (NASDAQ:ROST) Issues Q3 2024 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.350-1.410 for the period, compared to the consensus EPS estimate of 1.380. The company issued revenue guidance of -. Ross Stores also updated its FY 2024 guidance to 6.000-6.130 EPS.

Ross Stores Stock Performance

Shares of ROST stock opened at $155.21 on Friday. Ross Stores has a one year low of $108.35 and a one year high of $163.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The stock has a market cap of $51.77 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. The stock has a 50-day moving average of $145.40 and a 200-day moving average of $142.33.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.10. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Ross Stores will post 5.97 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s dividend payout ratio is 24.79%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the company an overweight rating in a research report on Friday. Telsey Advisory Group raised their target price on Ross Stores from $160.00 to $175.00 and gave the company a market perform rating in a report on Friday. UBS Group raised their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the stock a neutral rating in a report on Friday. Guggenheim boosted their price target on shares of Ross Stores from $165.00 to $170.00 and gave the company a buy rating in a research report on Friday, May 24th. Finally, Evercore ISI lifted their price target on Ross Stores from $155.00 to $165.00 and gave the stock an outperform rating in a research note on Friday, May 24th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $169.71.

Insiders Place Their Bets

In related news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now owns 973 shares of the company’s stock, valued at $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.