Ross Stores (NASDAQ:ROST) Releases Q4 2019 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its fourth quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.20-1.25 for the period. Ross Stores also updated its FY 2019 guidance to $4.41-4.50 EPS.

NASDAQ:ROST opened at $105.50 on Friday. Ross Stores has a 12-month low of $75.91 and a 12-month high of $108.20. The stock’s 50 day moving average price is $104.62 and its two-hundred day moving average price is $97.97. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.22 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Ross Stores will post 4.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s payout ratio is 23.94%.

Several research firms have recently commented on ROST. Goldman Sachs Group downgraded Ross Stores from a neutral rating to a sell rating and decreased their target price for the company from $102.00 to $91.00 in a research report on Thursday, June 27th. Wells Fargo & Co reaffirmed an outperform rating and issued a $116.00 target price (up previously from $104.00) on shares of Ross Stores in a research report on Friday. Robert W. Baird began coverage on Ross Stores in a research report on Monday, May 13th. They issued an outperform rating and a $108.00 target price on the stock. Telsey Advisory Group downgraded Ross Stores from an outperform rating to a market perform rating and set a $103.00 target price on the stock. in a research report on Monday, June 24th. Finally, Deutsche Bank upped their target price on Ross Stores from $107.00 to $113.00 and gave the company a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $102.81.

In other Ross Stores news, insider James S. Fassio sold 85,238 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $104.85, for a total value of $8,937,204.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barbara Rentler sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $99.16, for a total value of $3,966,400.00. Following the completion of the sale, the chief executive officer now directly owns 473,922 shares in the company, valued at approximately $46,994,105.52. The disclosure for this sale can be found here. Insiders have sold 296,287 shares of company stock worth $29,806,735 in the last three months. 2.30% of the stock is currently owned by company 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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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