Ross Stores, Inc. (ROST) Issues Q3 Earnings Guidance
Ross Stores, Inc. (NASDAQ:ROST) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.83-0.87 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.86, StockRatingsNetwork reports. Ross Stores also updated its FY15 guidance to $4.18-4.26 EPS.
Shares of Ross Stores, Inc. (NASDAQ:ROST) traded down 0.89% on Thursday, hitting $69.25. 2,412,084 shares of the company’s stock traded hands. Ross Stores, Inc. has a 52-week low of $61.83 and a 52-week high of $81.99. The stock has a 50-day moving average of $65.2 and a 200-day moving average of $68.3. The company has a market cap of $14.653 billion and a price-to-earnings ratio of 17.66. Ross Stores also was the target of some unusual options trading on Tuesday. Traders bought 9,493 call options on the company. This is an increase of approximately 873% compared to the typical volume of 976 call options.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 21st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post $4.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.16%.
A number of research firms have recently commented on ROST. Analysts at Sterne Agee downgraded shares of Ross Stores from a buy rating to a neutral rating in a research note on Wednesday, July 16th. They now have a $68.00 price target on the stock, down previously from $81.00. On a related note, analysts at JPMorgan Chase & Co. reiterated a neutral rating on shares of Ross Stores in a research note on Friday, May 23rd. They now have a $76.00 price target on the stock, down previously from $78.00. Finally, analysts at Morgan Stanley cut their price target on shares of Ross Stores to $81.00 in a research note on Friday, May 23rd. They now have an overweight rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $76.56.
Ross Stores, Inc is an off-price apparel and home fashion chain in the United States. The Company operates two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (NASDAQ:ROST) and dd’s DISCOUNTS.
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