Ross Stores (NASDAQ:ROST) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $3.92-4.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.10. Ross Stores also updated its Q2 guidance to $0.95-0.99 EPS.
Shares of Ross Stores opened at $82.96 on Friday, according to MarketBeat.com. Ross Stores has a 52-week low of $52.85 and a 52-week high of $85.66. The firm has a market cap of $31.28 billion, a PE ratio of 24.84, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 24th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $0.82 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. sell-side analysts expect that Ross Stores will post 4.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, June 11th. This represents a $0.90 dividend on an annualized basis and a yield of 1.08%. Ross Stores’s dividend payout ratio (DPR) is 26.95%.
Ross Stores announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of analysts recently weighed in on the stock. Loop Capital set a $88.00 price target on shares of Ross Stores and gave the stock a buy rating in a research report on Thursday. Guggenheim reaffirmed a buy rating and set a $85.00 price target on shares of Ross Stores in a research report on Thursday. Deutsche Bank decreased their price target on shares of Ross Stores from $94.00 to $91.00 and set a buy rating for the company in a research report on Friday. Jefferies Group reaffirmed a hold rating and set a $73.00 price target on shares of Ross Stores in a research report on Wednesday, March 7th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $78.00 price target on shares of Ross Stores in a research report on Wednesday, March 7th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $82.09.
In related news, Chairman Michael Balmuth sold 59,777 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sharon D. Garrett sold 26,000 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $77.07, for a total transaction of $2,003,820.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,652 shares of company stock worth $19,829,016. Company insiders own 2.30% of the company’s stock.
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 in the United States. It 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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