Ross Stores (NASDAQ:ROST) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.20-1.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.24. Ross Stores also updated its FY 2019 guidance to $4.41-4.50 EPS.
Ross Stores stock traded up $1.70 during mid-day trading on Thursday, reaching $107.40. 3,302,511 shares of the company traded hands, compared to its average volume of 2,266,474. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.34 and a quick ratio of 0.64. The firm’s 50 day moving average price is $104.62 and its 200 day moving average price is $97.97. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.22 and a beta of 0.89. Ross Stores has a 52-week low of $75.91 and a 52-week high of $108.20.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. On average, sell-side analysts anticipate that Ross Stores will post 4.51 EPS for the current year.
A number of research analysts have issued reports on ROST shares. Telsey Advisory Group downgraded shares of Ross Stores from an outperform rating to a market perform rating and set a $103.00 price objective on the stock. in a research report on Monday, June 24th. Robert W. Baird assumed coverage on shares of Ross Stores in a research report on Monday, May 13th. They set an outperform rating and a $108.00 price objective on the stock. Loop Capital raised shares of Ross Stores to a buy rating and set a $120.00 target price on the stock in a research report on Friday, August 16th. Guggenheim reaffirmed a buy rating and issued a $105.00 target price on shares of Ross Stores in a research report on Friday, May 24th. Finally, BidaskClub raised shares of Ross Stores from a buy rating to a strong-buy rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Ross Stores presently has an average rating of Buy and an average target price of $99.95.
In related news, Director George Orban sold 29,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.89, for a total transaction of $3,070,810.00. Following the sale, the director now directly owns 542,939 shares of the company’s stock, valued at approximately $57,491,810.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James S. Fassio sold 85,238 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $104.85, for a total transaction of $8,937,204.30. The disclosure for this sale can be found here. Insiders sold a total of 296,287 shares of company stock worth $29,806,735 over the last ninety days. Insiders own 2.30% of the company’s stock.
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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