Ross Stores (NASDAQ:ROST) Updates 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

NASDAQ:ROST opened at $146.09 on Friday. 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 firm has a market cap of $48.47 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The company’s 50-day moving average price is $145.14 and its two-hundred day moving average price is $144.62.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 42.42% and a net margin of 9.95%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business earned $1.33 EPS. Ross Stores’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Ross Stores will post 6.1 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm 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 dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 10th. Ross Stores’s payout ratio is presently 23.15%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. TD Cowen dropped their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Loop Capital increased their price target on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. UBS Group boosted their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley upped their price objective on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. 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 company’s stock. According to MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction 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 in the company, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s 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 transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This trade represents a 13.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is owned by 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.