Ross Stores (NASDAQ:ROST) Issues FY 2022 Earnings Guidance

Ross Stores (NASDAQ:ROSTGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $3.84-$4.12 for the period, compared to the consensus EPS estimate of $4.30. The company issued revenue guidance of -. Ross Stores also updated its Q3 guidance to $0.72-0.83 EPS.

Ross Stores Trading Down 1.1 %

Shares of ROST traded down $0.99 during midday trading on Friday, hitting $91.01. The stock had a trading volume of 4,910,577 shares, compared to its average volume of 3,348,109. Ross Stores has a 1 year low of $69.24 and a 1 year high of $125.72. The firm has a market cap of $31.85 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.88 and a quick ratio of 1.16. The stock’s 50 day moving average is $79.38 and its 200 day moving average is $88.14.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.08. Ross Stores had a net margin of 8.46% and a return on equity of 39.61%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, analysts forecast that Ross Stores will post 4.22 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 6th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, September 2nd. Ross Stores’s dividend payout ratio is presently 27.62%.

Wall Street Analysts Forecast Growth

ROST has been the topic of several recent analyst reports. Loop Capital raised their price target on shares of Ross Stores from $80.00 to $85.00 in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Ross Stores in a research note on Tuesday, August 2nd. They issued a buy rating and a $102.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Ross Stores from $125.00 to $119.00 in a research note on Monday, May 16th. Barclays reduced their price target on shares of Ross Stores from $119.00 to $85.00 and set an overweight rating on the stock in a research note on Monday, May 23rd. Finally, Morgan Stanley reiterated a buy rating and set a $129.00 target price on shares of Ross Stores in a report on Friday, June 3rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Ross Stores currently has an average rating of Moderate Buy and a consensus price target of $101.89.

Insider Buying and Selling

In related news, Director Michael J. Bush sold 1,000 shares of Ross Stores stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $81.46, for a total value of $81,460.00. Following the completion of the sale, the director now directly owns 34,496 shares in the company, valued at approximately $2,810,044.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Ross Stores

Several large investors have recently made changes to their positions in ROST. XTX Topco Ltd acquired a new stake in Ross Stores during the 1st quarter worth about $473,000. Advisory Services Network LLC grew its position in Ross Stores by 52.6% during the 1st quarter. Advisory Services Network LLC now owns 4,371 shares of the apparel retailer’s stock worth $394,000 after purchasing an additional 1,506 shares during the period. Donaldson Capital Management LLC grew its position in Ross Stores by 23.6% during the 1st quarter. Donaldson Capital Management LLC now owns 4,183 shares of the apparel retailer’s stock worth $378,000 after purchasing an additional 798 shares during the period. Centiva Capital LP grew its position in Ross Stores by 13.0% during the 2nd quarter. Centiva Capital LP now owns 5,142 shares of the apparel retailer’s stock worth $361,000 after purchasing an additional 590 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Ross Stores by 4.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,204 shares of the apparel retailer’s stock worth $295,000 after purchasing an additional 168 shares during the period. 87.02% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Company Profile

(Get Rating)

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. 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.

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

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