Ross Stores (NASDAQ:ROST) Issues Q4 Earnings Guidance

Ross Stores (NASDAQ:ROST) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $1.57-$1.64 for the period, compared to the consensus EPS estimate of $1.67. Ross Stores also updated its FY 2024 guidance to 6.100-6.170 EPS.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $146.09 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $145.14 and a two-hundred day simple moving average of $144.53. Ross Stores has a 1-year low of $127.53 and a 1-year high of $163.60. The firm has a market cap of $48.47 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09.

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 9.95% and a return on equity of 42.42%. 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. Analysts anticipate that Ross Stores will post 6.1 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is currently 23.15%.

Wall Street Analyst Weigh In

ROST has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Ross Stores from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. UBS Group increased their target price on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price target on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday. Finally, StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus price target of $171.69.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction on Tuesday, August 27th. The shares were 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 approximately $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. In the last ninety days, insiders sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is owned by corporate insiders.

About Ross Stores

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.