Ross Stores (ROST) Posts Earnings Results, Beats Estimates By $0.04 EPS

Ross Stores (NASDAQ:ROST) released its quarterly earnings results on Thursday. The apparel retailer reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04, Bloomberg Earnings reports. Ross Stores had a net margin of 10.13% and a return on equity of 47.33%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Ross Stores updated its Q2 guidance to $0.95-0.99 EPS and its FY19 guidance to $3.92-4.05 EPS.

Shares of ROST opened at $77.34 on Friday. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $85.66. The company has a market capitalization of $31.41 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Tuesday, June 12th will be given a $0.225 dividend. The ex-dividend date is Monday, June 11th. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. Ross Stores’s payout ratio is presently 26.95%.

A number of equities analysts recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price target on shares of Ross Stores in a research note on Wednesday, March 7th. Jefferies Group reaffirmed a “hold” rating and set a $73.00 price target on shares of Ross Stores in a research note on Wednesday, March 7th. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. Morgan Stanley lifted their price target on shares of Ross Stores from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 7th. Finally, Deutsche Bank assumed coverage on shares of Ross Stores in a research note on Monday, April 30th. They set a “buy” rating and a $94.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Ross Stores has an average rating of “Buy” and a consensus price target of $82.46.

Ross Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other news, CEO Barbara Rentler sold 32,430 shares of the company’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the completion of the sale, the chief executive officer now owns 534,318 shares of the company’s stock, valued at approximately $42,494,310.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael J. Hartshorn sold 3,361 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $76.94, for a total transaction of $258,595.34. Following the completion of the sale, the vice president now directly owns 79,158 shares of the company’s stock, valued at approximately $6,090,416.52. The disclosure for this sale can be found here. Insiders sold a total of 256,652 shares of company stock valued at $19,829,016 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

About Ross Stores

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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.

Earnings History for Ross Stores (NASDAQ:ROST)

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