Ross Stores (NASDAQ:ROST) Issues Q4 2019 Earnings Guidance

Ross Stores (NASDAQ:ROST) updated its fourth quarter 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.20-1.25 for the period. Ross Stores also updated its FY 2019 guidance to $4.41-4.50 EPS.

A number of research firms recently commented on ROST. Telsey Advisory Group downgraded Ross Stores from an outperform rating to a market perform rating and set a $103.00 price objective for the company. in a report on Monday, June 24th. Guggenheim reissued a buy rating and issued a $105.00 target price on shares of Ross Stores in a research note on Friday, May 24th. Goldman Sachs Group cut Ross Stores from a neutral rating to a sell rating and decreased their target price for the company from $102.00 to $91.00 in a research note on Thursday, June 27th. Loop Capital raised Ross Stores to a buy rating and set a $120.00 target price for the company in a research note on Friday, August 16th. Finally, Robert W. Baird started coverage on Ross Stores in a research note on Monday, May 13th. They issued an outperform rating and a $108.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Ross Stores currently has a consensus rating of Buy and an average price target of $99.95.

NASDAQ:ROST traded up $1.70 on Thursday, hitting $107.40. The company’s stock had a trading volume of 3,302,511 shares, compared to its average volume of 2,266,474. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $104.62 and a two-hundred day moving average of $97.97. The firm has a market capitalization of $37.96 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89. Ross Stores has a one year low of $75.91 and a one year high of $108.20.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Ross Stores will post 4.51 EPS for the current year.

In other news, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James S. Fassio sold 85,238 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $104.85, for a total value of $8,937,204.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,287 shares of company stock worth $29,806,735. 2.30% 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 brands. Its stores primarily offers 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 regular prices to customers from households with moderate income.

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

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