Ross Stores (NASDAQ:ROST) Updates FY25 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its FY25 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.10-$6.17 for the period, compared to the consensus earnings per share estimate of $6.13. Ross Stores also updated its FY 2024 guidance to 6.100-6.170 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ROST. Bank of America increased their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a report on Monday. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. Finally, Barclays lifted their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Five investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Ross Stores Trading Up 2.6 %

ROST traded up $3.64 on Thursday, hitting $142.96. The company had a trading volume of 5,541,199 shares, compared to its average volume of 2,294,072. Ross Stores has a 12-month low of $127.53 and a 12-month high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $145.52 and its 200 day simple moving average is $144.44. The company has a market cap of $47.43 billion, a PE ratio of 22.47, a PEG ratio of 2.34 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 for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts expect that Ross Stores will post 6.11 EPS for the current year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.03%. Ross Stores’s dividend payout ratio (DPR) is presently 23.71%.

Insider Buying and Selling

In related news, 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 transaction, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This trade represents a 57.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated 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 sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock valued at $11,093,051. Company 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.