Q2 2024 Earnings Estimate for Ross Stores, Inc. (NASDAQ:ROST) Issued By Telsey Advisory Group

Ross Stores, Inc. (NASDAQ:ROST – Get Rating) – Telsey Advisory Group cut their Q2 2024 earnings per share estimates for shares of Ross Stores in a report issued on Friday, May 19th. Telsey Advisory Group analyst D. Telsey now anticipates that the apparel retailer will post earnings per share of $1.14 for the quarter, down from their previous forecast of $1.30. Telsey Advisory Group has a “Market Perform” rating and a $120.00 price objective on the stock. The consensus estimate for Ross Stores’ current full-year earnings is $4.90 per share. Telsey Advisory Group also issued estimates for Ross Stores’ Q4 2024 earnings at $1.55 EPS, FY2024 earnings at $4.95 EPS and FY2025 earnings at $5.45 EPS.

Ross Stores (NASDAQ:ROST – Get Rating) last announced its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.48 billion. Ross Stores had a return on equity of 36.89% and a net margin of 8.19%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS.

A number of other brokerages have also recently commented on ROST. Citigroup lifted their price target on Ross Stores from $116.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft cut their price objective on Ross Stores from $121.00 to $120.00 in a research note on Wednesday, March 1st. Loop Capital boosted their price objective on Ross Stores from $115.00 to $120.00 in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Ross Stores from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, April 3rd. Finally, Barclays decreased their price objective on Ross Stores from $139.00 to $122.00 in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.76.

Ross Stores Stock Performance

Shares of ROST opened at $104.76 on Monday. The stock has a 50-day moving average of $104.29 and a two-hundred day moving average of $109.95. Ross Stores has a one year low of $69.24 and a one year high of $122.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.90. The stock has a market cap of $35.83 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.04 and a beta of 0.97.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its holdings in Ross Stores by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,847 shares of the apparel retailer’s stock valued at $3,116,000 after acquiring an additional 87 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of Ross Stores by 0.3% during the 4th quarter. Securian Asset Management Inc. now owns 28,499 shares of the apparel retailer’s stock valued at $3,308,000 after buying an additional 87 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Ross Stores by 2.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 3,236 shares of the apparel retailer’s stock valued at $376,000 after buying an additional 92 shares during the period. CX Institutional grew its stake in shares of Ross Stores by 4.7% during the 1st quarter. CX Institutional now owns 2,249 shares of the apparel retailer’s stock valued at $243,000 after buying an additional 100 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Ross Stores by 4.4% during the 1st quarter. Spire Wealth Management now owns 2,388 shares of the apparel retailer’s stock valued at $253,000 after buying an additional 100 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 20,529 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $112.37, for a total transaction of $2,306,843.73. Following the completion of the sale, the chief operating officer now owns 127,659 shares in the company, valued at $14,345,041.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael J. Hartshorn sold 20,529 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $112.37, for a total value of $2,306,843.73. Following the completion of the sale, the chief operating officer now owns 127,659 shares in the company, valued at $14,345,041.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jeffrey P. Burrill sold 3,297 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $104.73, for a total transaction of $345,294.81. Following the completion of the sale, the chief accounting officer now owns 23,148 shares of the company’s stock, valued at approximately $2,424,290.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,047 shares of company stock worth $3,947,565. Company insiders own 2.00% of the company’s stock.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, June 5th. Ross Stores’s payout ratio is 29.71%.

About Ross Stores

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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.