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

Ross Stores (NASDAQ:ROST) updated its third quarter 2024 earnings guidance on Thursday. 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

NASDAQ:ROST opened at $160.95 on Friday. The stock has a market cap of $53.69 billion, a P/E ratio of 25.72, a PEG ratio of 2.17 and a beta of 1.08. Ross Stores has a 1-year low of $108.35 and a 1-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 firm has a 50-day moving average of $145.21 and a two-hundred day moving average of $142.25.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.10. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the business posted $1.32 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ROST. Guggenheim boosted their price target on shares of Ross Stores from $165.00 to $170.00 and gave the stock a buy rating in a research report on Friday, May 24th. Wells Fargo & Company lifted their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the stock an overweight rating in a research note on Friday, May 24th. Robert W. Baird lifted their target price on shares of Ross Stores from $162.00 to $180.00 and gave the stock an outperform rating in a research report on Friday. Bank of America upped their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a buy rating in a research report on Friday. Finally, Evercore ISI boosted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an outperform rating in a research note on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ross Stores presently has an average rating of Moderate Buy and a consensus target price of $166.06.

Insiders Place Their Bets

In other news, Director Patricia H. Mueller sold 941 shares of Ross Stores 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 available at the SEC website. 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.