FY2023 EPS Estimates for Ross Stores, Inc. (NASDAQ:ROST) Lifted by William Blair

Ross Stores, Inc. (NASDAQ:ROSTGet Rating) – William Blair boosted their FY2023 EPS estimates for shares of Ross Stores in a note issued to investors on Friday, November 18th. William Blair analyst D. Carden now expects that the apparel retailer will post earnings of $4.31 per share for the year, up from their prior forecast of $3.98. William Blair has a “Outperform” rating on the stock. The consensus estimate for Ross Stores’ current full-year earnings is $4.29 per share. William Blair also issued estimates for Ross Stores’ Q4 2023 earnings at $1.24 EPS, Q1 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.34 EPS, Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.32 EPS and FY2024 earnings at $5.04 EPS.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Ross Stores had a net margin of 7.74% and a return on equity of 35.09%. Ross Stores’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS.

A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group upped their price target on shares of Ross Stores from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Ross Stores from $112.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird boosted their target price on Ross Stores from $105.00 to $125.00 in a research report on Friday. Telsey Advisory Group boosted their target price on Ross Stores from $80.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, The Goldman Sachs Group initiated coverage on Ross Stores in a research report on Tuesday, August 2nd. They issued a “buy” rating and a $102.00 target price for the company. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.72.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $107.59 on Monday. The stock has a market cap of $37.34 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.56 and a beta of 0.97. The firm’s 50-day moving average is $89.91 and its 200 day moving average is $85.45. Ross Stores has a 1 year low of $69.24 and a 1 year high of $116.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.92 and a quick ratio of 1.17.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 6th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, December 5th. Ross Stores’s dividend payout ratio is 30.10%.

Institutional Investors Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. SG Americas Securities LLC increased its holdings in Ross Stores by 1.0% in the 1st quarter. SG Americas Securities LLC now owns 27,407 shares of the apparel retailer’s stock worth $2,479,000 after acquiring an additional 280 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in Ross Stores by 30.5% in the 1st quarter. Regentatlantic Capital LLC now owns 5,376 shares of the apparel retailer’s stock worth $486,000 after purchasing an additional 1,256 shares during the period. Mutual of America Capital Management LLC boosted its stake in Ross Stores by 0.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 47,175 shares of the apparel retailer’s stock worth $4,267,000 after purchasing an additional 236 shares during the period. National Asset Management Inc. boosted its stake in Ross Stores by 20.4% in the 1st quarter. National Asset Management Inc. now owns 9,624 shares of the apparel retailer’s stock worth $872,000 after purchasing an additional 1,632 shares during the period. Finally, FDx Advisors Inc. boosted its stake in Ross Stores by 8.2% in the 1st quarter. FDx Advisors Inc. now owns 3,101 shares of the apparel retailer’s stock worth $281,000 after purchasing an additional 236 shares during the period. 87.65% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

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

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