Ross Stores (NASDAQ:ROST) Releases Q4 2024 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.570-1.640 for the period, compared to the consensus earnings per share estimate of 1.670. The company issued revenue guidance of -. Ross Stores also updated its FY 2024 guidance to 6.100-6.170 EPS.

Ross Stores Stock Performance

Shares of ROST opened at $146.09 on Friday. The company’s 50 day simple moving average is $145.14 and its 200-day simple moving average is $144.53. 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 has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last issued its quarterly 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. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 42.42%. Ross Stores’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, equities analysts predict that Ross Stores will post 6.1 EPS for the current year.

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ROST shares. Bank of America increased their price objective on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Loop Capital increased their price target on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group raised their target price on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $175.00 target price on shares of Ross Stores in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $171.69.

Insider Buying and Selling

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred 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 directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The trade was a 13.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,138 shares of company stock worth $11,093,051 in the last quarter. 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.