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

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

Ross Stores Trading Up 2.2 %

NASDAQ:ROST opened at $146.09 on Friday. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $145.14 and its 200 day moving average is $144.62. The stock has a market capitalization of $48.47 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 42.42% and a net margin of 9.95%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts expect that Ross Stores will post 6.1 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROST shares. Guggenheim reiterated a “buy” rating and issued a $180.00 target price on shares of Ross Stores in a research note on Friday. Evercore ISI lifted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their price target on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird increased their price objective on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.69.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. The trade was a 57.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. 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.