Ross Stores (NASDAQ:ROST) Releases Q2 2022 Earnings Guidance

Ross Stores (NASDAQ:ROSTGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.99-$1.07 for the period, compared to the consensus estimate of $1.33. The company issued revenue guidance of -.Ross Stores also updated its FY 2022 guidance to $4.34-$4.58 EPS.

Several analysts have commented on ROST shares. Sanford C. Bernstein started coverage on shares of Ross Stores in a research report on Monday, March 14th. They issued an outperform rating and a $125.00 target price for the company. Cowen decreased their target price on shares of Ross Stores from $109.00 to $103.00 and set a market perform rating for the company in a research report on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ross Stores from $122.00 to $123.00 in a research note on Monday, May 16th. Citigroup cut their target price on shares of Ross Stores from $125.00 to $100.00 and set a buy rating for the company in a research note on Friday, May 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ross Stores from $125.00 to $119.00 in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $100.50.

Ross Stores stock opened at $82.66 on Thursday. The company’s 50 day simple moving average is $94.80 and its 200 day simple moving average is $99.37. Ross Stores has a fifty-two week low of $69.75 and a fifty-two week high of $127.58. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.88 and a quick ratio of 1.16.

Ross Stores (NASDAQ:ROSTGet Rating) last released its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.03). Ross Stores had a return on equity of 39.61% and a net margin of 8.46%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $1.34 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, analysts predict that Ross Stores will post 4.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, June 7th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 6th. This represents a $1.24 annualized dividend and a yield of 1.50%. Ross Stores’s dividend payout ratio (DPR) is currently 27.62%.

Ross Stores announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 1st that authorizes the company to buyback $1.90 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Hedge funds have recently made changes to their positions in the business. Zullo Investment Group Inc. acquired a new stake in Ross Stores during the 4th quarter worth approximately $30,000. Fairfield Bush & CO. bought a new position in shares of Ross Stores during the 1st quarter worth approximately $87,000. Belpointe Asset Management LLC grew its stake in shares of Ross Stores by 14.5% during the 4th quarter. Belpointe Asset Management LLC now owns 1,274 shares of the apparel retailer’s stock worth $145,000 after acquiring an additional 161 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Ross Stores during the 4th quarter worth approximately $151,000. Finally, Covestor Ltd grew its stake in shares of Ross Stores by 117.3% during the 1st quarter. Covestor Ltd now owns 1,706 shares of the apparel retailer’s stock worth $154,000 after acquiring an additional 921 shares in the last quarter. Hedge funds and other institutional investors own 87.02% of the company’s stock.

Ross Stores Company Profile (Get Rating)

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 brand names. Its stores primarily offer 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 for households with moderate income.

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

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