Telsey Advisory Group Equities Analysts Boost Earnings Estimates for Ross Stores, Inc. (NASDAQ:ROST)

Ross Stores, Inc. (NASDAQ:ROSTGet Rating) – Equities research analysts at Telsey Advisory Group increased their FY2023 earnings per share estimates for shares of Ross Stores in a note issued to investors on Friday, November 18th. Telsey Advisory Group analyst D. Telsey now expects that the apparel retailer will earn $4.30 per share for the year, up from their prior estimate of $4.00. Telsey Advisory Group currently has a “Market Perform” rating and a $120.00 target price on the stock. The consensus estimate for Ross Stores’ current full-year earnings is $4.29 per share. Telsey Advisory Group also issued estimates for Ross Stores’ Q4 2023 earnings at $1.23 EPS, Q1 2024 earnings at $1.19 EPS, Q2 2024 earnings at $1.32 EPS, Q4 2024 earnings at $1.28 EPS and FY2024 earnings at $4.95 EPS.

Ross Stores (NASDAQ:ROSTGet Rating) last issued its 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.37 billion. Ross Stores had a return on equity of 35.09% and a net margin of 7.74%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS.

A number of other brokerages also recently issued reports on ROST. JPMorgan Chase & Co. increased their target price on Ross Stores from $112.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a research note on Friday, August 19th. Barclays raised their price objective on Ross Stores from $85.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Wells Fargo & Company raised their price objective on Ross Stores from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird raised their price objective on Ross Stores from $105.00 to $125.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.72.

Ross Stores Stock Performance

Shares of ROST stock opened at $107.59 on Monday. The company has a market cap of $37.34 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.56 and a beta of 0.97. The stock has a 50 day simple moving average of $89.91 and a 200-day simple moving average of $85.45. Ross Stores has a 12-month low of $69.24 and a 12-month high of $116.84. The company has a current ratio of 1.92, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59.

Ross Stores Dividend Announcement

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

Institutional Investors Weigh In On Ross Stores

Several hedge funds have recently made changes to their positions in the business. Trust Asset Management LLC boosted its holdings in shares of Ross Stores by 3.4% during the first quarter. Trust Asset Management LLC now owns 3,582 shares of the apparel retailer’s stock worth $324,000 after purchasing an additional 119 shares during the last quarter. Saturna Capital CORP boosted its holdings in shares of Ross Stores by 1.0% during the first quarter. Saturna Capital CORP now owns 12,730 shares of the apparel retailer’s stock worth $1,152,000 after purchasing an additional 120 shares during the last quarter. Core Alternative Capital boosted its holdings in shares of Ross Stores by 59.7% during the third quarter. Core Alternative Capital now owns 321 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Sage Rhino Capital LLC boosted its holdings in shares of Ross Stores by 1.5% during the third quarter. Sage Rhino Capital LLC now owns 8,171 shares of the apparel retailer’s stock worth $689,000 after purchasing an additional 122 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its holdings in Ross Stores by 1.4% in the third quarter. Mission Creek Capital Partners Inc. now owns 9,656 shares of the apparel retailer’s stock valued at $814,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 87.65% 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.

Further Reading

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

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