Ross Stores (NASDAQ:ROST) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.03-1.07 for the period, compared to the Thomson Reuters consensus estimate of $1.07. Ross Stores also updated its FY19 guidance to $3.86-4.03 EPS.
Shares of Ross Stores (ROST) traded up $0.18 on Wednesday, hitting $77.18. The company had a trading volume of 2,468,898 shares, compared to its average volume of 2,707,464. Ross Stores has a 12 month low of $52.85 and a 12 month high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $29,207.42, a PE ratio of 21.77, a P/E/G ratio of 1.90 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.95 billion. analysts anticipate that Ross Stores will post 4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be issued a $0.225 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, March 16th. Ross Stores’s dividend payout ratio (DPR) is currently 18.03%.
Ross Stores declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts recently issued reports on ROST shares. Telsey Advisory Group reiterated a buy rating on shares of Ross Stores in a report on Friday, November 17th. SunTrust Banks set a $80.00 price objective on Ross Stores and gave the company a buy rating in a research note on Friday, November 17th. Royal Bank of Canada restated a sector perform rating and set a $70.00 price objective (up from $62.00) on shares of Ross Stores in a research note on Friday, November 17th. Morgan Stanley raised their price objective on Ross Stores from $70.00 to $77.00 and gave the company an overweight rating in a research note on Friday, November 17th. Finally, Nomura set a $80.00 price objective on Ross Stores and gave the company a buy rating in a research note on Friday, November 17th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Ross Stores currently has a consensus rating of Buy and an average price target of $81.86.
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Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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