Ross Stores (NASDAQ:ROST) is set to post its quarterly earnings results after the market closes on Thursday, May 23rd. Analysts expect Ross Stores to post earnings of $1.12 per share for the quarter. Ross Stores has set its FY 2019 guidance at $4.30-4.50 EPS and its Q1 2019 guidance at $1.05-1.11 EPS.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.05 billion. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. On average, analysts expect Ross Stores to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
NASDAQ:ROST opened at $94.50 on Thursday. The stock has a market capitalization of $34.34 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.00 and a beta of 0.89. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Ross Stores has a twelve month low of $75.91 and a twelve month high of $104.35.
Ross Stores announced that its board has authorized a stock repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Chairman Michael Balmuth sold 25,689 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the completion of the transaction, the chairman now directly owns 51,998 shares in the company, valued at $4,719,858.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael J. Hartshorn sold 9,924 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $91.48, for a total value of $907,847.52. The disclosure for this sale can be found here. Insiders have sold 137,054 shares of company stock valued at $12,504,328 over the last 90 days. 2.30% of the stock is owned by corporate insiders.
A number of analysts have recently commented on ROST shares. Zacks Investment Research raised Ross Stores from a “sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird started coverage on Ross Stores in a research note on Monday. They set an “outperform” rating and a $108.00 price target on the stock. BidaskClub raised Ross Stores from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Credit Suisse Group lifted their price target on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, DA Davidson lifted their price target on Ross Stores to $92.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Ross Stores presently has a consensus rating of “Buy” and an average target price of $97.84.
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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