Ross Stores (NASDAQ:ROST) Releases Q3 Earnings Guidance

Ross Stores (NASDAQ:ROSTGet Rating) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.72-0.83 for the period, compared to the consensus estimate of $1.07. Ross Stores also updated its FY 2022 guidance to $3.84-$4.12 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on ROST. JPMorgan Chase & Co. lowered their price target on shares of Ross Stores from $125.00 to $119.00 in a report on Monday, May 16th. Barclays lowered their price target on shares of Ross Stores from $119.00 to $85.00 and set an overweight rating for the company in a report on Monday, May 23rd. Evercore ISI set a $70.00 price objective on shares of Ross Stores in a research note on Tuesday, July 19th. Morgan Stanley reiterated a buy rating and set a $129.00 price objective on shares of Ross Stores in a research note on Friday, June 3rd. Finally, TheStreet downgraded shares of Ross Stores from a b- rating to a c+ rating in a research note on Thursday, May 19th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $99.89.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $0.82 during trading hours on Thursday, reaching $92.00. The company’s stock had a trading volume of 2,934,934 shares, compared to its average volume of 3,337,973. The stock has a market cap of $32.19 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03. The company’s 50 day simple moving average is $79.13 and its 200 day simple moving average is $88.18. Ross Stores has a one year low of $69.24 and a one year high of $126.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.16 and a current ratio of 1.88.

Ross Stores (NASDAQ:ROSTGet Rating) last issued its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.02). The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.54 billion. Ross Stores had a net margin of 8.46% and a return on equity of 39.61%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. As a group, analysts expect that Ross Stores will post 4.27 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 6th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.35%. Ross Stores’s dividend payout ratio is presently 27.62%.

Insider Activity at Ross Stores

In related news, Director Michael J. Bush sold 1,000 shares of Ross Stores stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $81.46, for a total value of $81,460.00. Following the sale, the director now directly owns 34,496 shares in the company, valued at approximately $2,810,044.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ross Stores

Large investors have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new position in Ross Stores during the 1st quarter valued at about $87,000. Covestor Ltd grew its stake in shares of Ross Stores by 117.3% in the 1st quarter. Covestor Ltd now owns 1,706 shares of the apparel retailer’s stock worth $154,000 after purchasing an additional 921 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ross Stores in the 1st quarter worth approximately $200,000. Sequoia Financial Advisors LLC acquired a new position in shares of Ross Stores in the 1st quarter worth approximately $230,000. Finally, Fund Management at Engine No. 1 LLC acquired a new position in shares of Ross Stores in the 1st quarter worth approximately $270,000. Institutional investors and hedge funds own 87.02% of the company’s stock.

Ross Stores Company Profile

(Get Rating)

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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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

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