Ross Stores (NASDAQ:ROST) Updates Q4 2024 Earnings Guidance

Ross Stores (NASDAQ:ROST) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.570-1.640 for the period, compared to the consensus earnings per share estimate of 1.670. The company issued revenue guidance of -. Ross Stores also updated its FY 2024 guidance to 6.100-6.170 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ROST shares. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $175.00 price target on shares of Ross Stores in a report on Monday. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company lowered their target price on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Barclays increased their target price on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.50.

Ross Stores Trading Up 2.6 %

ROST traded up $3.64 during trading on Thursday, reaching $142.96. 5,801,839 shares of the stock traded hands, compared to its average volume of 2,295,225. 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’s 50-day moving average is $145.52 and its 200 day moving average is $144.44. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The stock has a market capitalization of $47.43 billion, a PE ratio of 22.47, a P/E/G ratio of 2.34 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. Equities analysts anticipate that Ross Stores will post 6.11 earnings per share for the current year.

Ross Stores Announces Dividend

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

Insider Buying and Selling

In related news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This represents a 57.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This trade represents a 13.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,138 shares of company stock valued at $11,093,051 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

About Ross Stores

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.