Ross Stores (ROST) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Ross Stores (NASDAQ:ROST) released its earnings data on Thursday. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.08 by $0.06, American Banking & Market News reports. 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 prior year, the company posted $0.98 earnings per share.
Ross Stores (NASDAQ:ROST) traded down 0.89% on Thursday, hitting $69.25. 2,343,458 shares of the company’s stock traded hands. Ross Stores has a one year low of $61.83 and a one year high of $81.99. The stock’s 50-day moving average is $65.2 and its 200-day moving average is $68.3. The company has a market cap of $14.653 billion and a P/E ratio of 17.66. Ross Stores also was the target of some unusual options trading activity on Tuesday. Stock traders bought 9,493 call options on the stock. This is an increase of 873% compared to the average volume of 976 call options.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors 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%.
ROST has been the subject of a number of recent research reports. 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Ross Stores presently has a consensus rating of “Hold” and an average price target 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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