Zacks Research Equities Analysts Raise Earnings Estimates for Ross Stores, Inc. (NASDAQ:ROST)

Posted by Defense World Staff on Sep 25th, 2023

Ross Stores, Inc. (NASDAQ:ROST – Free Report) – Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Ross Stores in a research report issued on Friday, September 22nd. Zacks Research analyst R. Lohia now anticipates that the apparel retailer will earn $5.21 per share for the year, up from their previous estimate of $5.19. The consensus estimate for Ross Stores’ current full-year earnings is $5.23 per share. Zacks Research also issued estimates for Ross Stores’ Q4 2024 earnings at $1.60 EPS, Q3 2025 earnings at $1.31 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $5.68 EPS, Q2 2026 earnings at $1.59 EPS and FY2026 earnings at $6.26 EPS.

Ross Stores (NASDAQ:ROST – Get Free Report) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.16. Ross Stores had a return on equity of 37.36% and a net margin of 8.36%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the business earned $1.11 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis.

Other analysts also recently issued reports about the company. Gordon Haskett downgraded Ross Stores from a “buy” rating to an “accumulate” rating and set a $120.00 target price for the company. in a report on Monday, June 26th. UBS Group upped their price objective on Ross Stores from $80.00 to $84.00 and gave the company a “sell” rating in a research note on Friday, August 18th. Morgan Stanley upped their price objective on Ross Stores from $130.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, August 18th. StockNews.com started coverage on Ross Stores in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Loop Capital increased their target price on Ross Stores from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

View Our Latest Stock Analysis on ROST

Ross Stores Stock Down 1.3 %

Ross Stores stock opened at $111.66 on Monday. Ross Stores has a fifty-two week low of $81.21 and a fifty-two week high of $122.70. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.25 and a current ratio of 1.83. The company has a market capitalization of $38.04 billion, a P/E ratio of 23.66, a PEG ratio of 1.84 and a beta of 0.97. The stock has a 50-day simple moving average of $116.01 and a 200-day simple moving average of $109.10.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. CX Institutional raised its position in Ross Stores by 4.7% in the first quarter. CX Institutional now owns 2,249 shares of the apparel retailer’s stock valued at $243,000 after purchasing an additional 100 shares during the period. Spire Wealth Management lifted its stake in shares of Ross Stores by 4.4% during the first quarter. Spire Wealth Management now owns 2,388 shares of the apparel retailer’s stock worth $253,000 after purchasing an additional 100 shares in the last quarter. Bartlett & Co. LLC lifted its stake in shares of Ross Stores by 11.8% during the second quarter. Bartlett & Co. LLC now owns 949 shares of the apparel retailer’s stock worth $106,000 after purchasing an additional 100 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Ross Stores by 3.2% during the second quarter. Venturi Wealth Management LLC now owns 3,184 shares of the apparel retailer’s stock worth $357,000 after purchasing an additional 100 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Ross Stores by 5.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 1,879 shares of the apparel retailer’s stock worth $199,000 after purchasing an additional 104 shares in the last quarter. 84.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ross Stores

In other news, CMO Brian R. Morrow sold 25,945 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total transaction of $3,153,095.85. Following the sale, the chief marketing officer now owns 67,033 shares in the company, valued at $8,146,520.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Barbara Rentler sold 23,254 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $120.02, for a total value of $2,790,945.08. Following the transaction, the chief executive officer now directly owns 282,171 shares of the company’s stock, valued at approximately $33,866,163.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Brian R. Morrow sold 25,945 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total value of $3,153,095.85. Following the completion of the transaction, the chief marketing officer now directly owns 67,033 shares in the company, valued at $8,146,520.49. The disclosure for this sale can be found here. Insiders have sold 69,199 shares of company stock worth $8,325,441 over the last quarter. 2.00% of the stock is currently owned by insiders.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, September 1st. Ross Stores’s dividend payout ratio (DPR) is 28.39%.

About Ross Stores

(Get Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.