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

Ross Stores, Inc. (NASDAQ:ROST) announced its quarterly earnings results on Thursday. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05, RTT News reports. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Ross Stores updated its Q4 guidance to $0.88-0.92 EPS.

Shares of Ross Stores (NASDAQ:ROST) opened at $72.25 on Friday. Ross Stores has a twelve month low of $52.85 and a twelve month high of $73.94. The company has a market capitalization of $25,330.00, a PE ratio of 21.28, a P/E/G ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. Ross Stores’s payout ratio is presently 21.12%.

In related news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

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A number of analysts recently commented on the company. Telsey Advisory Group reaffirmed a “buy” rating on shares of Ross Stores in a research note on Friday. SunTrust Banks, Inc. set a $80.00 price target on Ross Stores and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target (up previously from $62.00) on shares of Ross Stores in a research note on Friday. Morgan Stanley raised their price target on Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Nomura raised their price target on Ross Stores from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $72.48.

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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