Ross Stores, Inc. (ROST) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Ross Stores, Inc. (NASDAQ:ROST) posted its quarterly earnings data on Thursday. The apparel retailer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05, RTT News reports. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Ross Stores’s revenue for the quarter was up 7.9% compared to the same quarter last year. Ross Stores updated its Q3 guidance to $0.64-0.67 EPS and its Q4 guidance to $0.88-0.92 EPS.

Shares of Ross Stores (NASDAQ ROST) traded down 1.91% during mid-day trading on Thursday, reaching $53.33. 5,359,502 shares of the company’s stock traded hands. Ross Stores has a 12-month low of $52.85 and a 12-month high of $69.81. The firm’s 50 day moving average price is $55.26 and its 200-day moving average price is $62.21. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 18.27 and a beta of 1.10. Ross Stores also was the recipient of unusually large options trading activity on Monday. Stock investors acquired 7,510 put options on the stock. This represents an increase of approximately 1,008% compared to the average volume of 678 put options.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. Ross Stores’s dividend payout ratio is 21.92%.

In other news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the transaction, the director now owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on ROST. Zacks Investment Research cut shares of Ross Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC restated a “hold” rating and issued a $63.00 price target on shares of Ross Stores in a report on Tuesday, May 16th. William Blair restated an “outperform” rating on shares of Ross Stores in a report on Monday, May 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $69.00 price target on shares of Ross Stores in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $69.41.

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About Ross Stores

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Earnings History for Ross Stores (NASDAQ:ROST)

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