Ross Stores (NASDAQ:ROST) Releases 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 6.000-6.130 for the period, compared to the consensus EPS estimate of 6.010. The company issued revenue guidance of -. Ross Stores also updated its FY25 guidance to $6.00-6.13 EPS.

Ross Stores Stock Up 1.8 %

Ross Stores stock opened at $155.21 on Friday. The stock’s 50 day moving average price is $145.40 and its 200 day moving average price is $142.33. The company 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 company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores has a 1-year low of $108.35 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company posted $1.32 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Ross Stores will post 5.97 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROST. Evercore ISI lifted their price objective on Ross Stores from $155.00 to $165.00 and gave the stock an outperform rating in a research report on Friday, May 24th. StockNews.com upgraded shares of Ross Stores from a hold rating to a buy rating in a report on Thursday, July 11th. TD Cowen upped their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the company a buy rating in a research note on Friday. Telsey Advisory Group upped their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company a market perform rating in a research note on Friday. Finally, Bank of America raised their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a buy rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $169.71.

Insider Buying and Selling at Ross Stores

In other news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the sale, the director now owns 973 shares in the company, valued at approximately $134,634.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

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.