Ross Stores (NASDAQ:ROST) Issues FY 2021 Earnings Guidance

Ross Stores (NASDAQ:ROST) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $4.650-$4.750 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.510. The company issued revenue guidance of -.Ross Stores also updated its Q4 2021 guidance to $0.830-$0.930 EPS.

ROST stock traded up $0.08 during mid-day trading on Thursday, hitting $115.51. 1,546,494 shares of the company were exchanged, compared to its average volume of 1,956,545. The company has a quick ratio of 1.37, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $41.05 billion, a P/E ratio of 30.64, a PEG ratio of 2.59 and a beta of 1.02. The business has a fifty day simple moving average of $112.94 and a 200-day simple moving average of $118.66. Ross Stores has a 12-month low of $104.92 and a 12-month high of $134.21.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 18th. The apparel retailer reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.31. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.35 billion. Ross Stores had a net margin of 7.73% and a return on equity of 45.58%. Ross Stores’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. Research analysts predict that Ross Stores will post 4.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Tuesday, December 7th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, December 6th. This represents a $1.14 annualized dividend and a dividend yield of 0.99%. Ross Stores’s dividend payout ratio is presently 30.24%.

Several brokerages have recently issued reports on ROST. Cowen reduced their price target on shares of Ross Stores from $147.00 to $144.00 and set an outperform rating on the stock in a research report on Friday, August 20th. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $132.00 to $137.00 and gave the stock an overweight rating in a research report on Monday, August 16th. Loop Capital cut shares of Ross Stores from a buy rating to a hold rating and reduced their price target for the stock from $140.00 to $105.00 in a research report on Thursday, October 14th. Credit Suisse Group increased their price target on shares of Ross Stores from $142.00 to $145.00 and gave the stock an outperform rating in a research report on Friday, August 20th. Finally, William Blair reaffirmed an outperform rating on shares of Ross Stores in a report on Wednesday, August 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $139.36.

A hedge fund recently raised its stake in Ross Stores stock. Morgan Stanley lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,371,486 shares of the apparel retailer’s stock after acquiring an additional 353,069 shares during the period. Morgan Stanley owned 0.38% of Ross Stores worth $170,064,000 at the end of the most recent reporting period. 84.58% of the stock is owned by institutional investors and hedge funds.

About Ross Stores

Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.

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Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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