Ross Stores (NASDAQ:ROST) Issues 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 Analysts Forecast Growth

Several brokerages have commented on ROST. Barclays upped their target price on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Loop Capital increased their price target on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $169.50.

Ross Stores Stock Up 2.6 %

Ross Stores stock traded up $3.64 during mid-day trading on Thursday, reaching $142.96. The company’s stock had a trading volume of 5,801,839 shares, compared to its average volume of 2,295,225. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The business’s 50 day simple moving average is $145.52 and its 200 day simple moving average is $144.44. The company has a market capitalization of $47.43 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09.

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

Ross Stores Dividend Announcement

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

Insider Buying and Selling at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 approximately $48,003,532.29. The trade was 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 quarter. 2.10% of the stock is currently owned by 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.