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

Ross Stores (NASDAQ:ROST) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.570-1.640 for the period, compared to the consensus 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 Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. 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. Loop Capital increased their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley raised their price target on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a research 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. According to MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

Ross Stores Stock Performance

Shares of ROST stock traded up $3.64 on Thursday, hitting $142.96. 5,801,839 shares of the stock were exchanged, compared to its average volume of 2,295,225. The firm’s 50 day moving average is $145.52 and its two-hundred day moving average is $144.44. Ross Stores has a one year low of $127.53 and a one year high of $163.60. The firm 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. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business earned $1.33 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that Ross Stores will post 6.11 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. Ross Stores’s payout ratio is 23.71%.

Insiders Place Their Bets

In related news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, 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, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,138 shares of company stock worth $11,093,051 over the last 90 days. Corporate 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.