Erste Group Bank Lifts Earnings Estimates for Ross Stores

Ross Stores, Inc. (NASDAQ:ROST) – Erste Group Bank increased their FY2028 earnings estimates for shares of Ross Stores in a report released on Thursday, August 27th. Erste Group Bank analyst H. Engel now expects that the apparel retailer will post earnings of $8.91 per share for the year, up from their previous estimate of $8.51. The consensus estimate for Ross Stores’ current full-year earnings is $8.15 per share.

ROST has been the topic of a number of other research reports. Sanford C. Bernstein increased their target price on Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $294.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Truist Financial upped their price objective on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st. Jefferies Financial Group increased their price objective on Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, Wall Street Zen downgraded Ross Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $263.76.

Ross Stores Trading Down 0.0%

Shares of NASDAQ:ROST opened at $228.54 on Monday. Ross Stores has a 12-month low of $143.39 and a 12-month high of $257.00. The business has a 50 day moving average of $233.78 and a 200-day moving average of $223.91. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock has a market cap of $73.31 billion, a PE ratio of 27.67, a P/E/G ratio of 1.92 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. Ross Stores’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 EPS.

Institutional Investors Weigh In On Ross Stores

Institutional investors have recently made changes to their positions in the stock. Woodline Partners LP raised its holdings in Ross Stores by 39.9% in the 1st quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock valued at $3,562,000 after acquiring an additional 7,951 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Ross Stores by 23.5% in the first quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock worth $79,000 after purchasing an additional 117 shares during the period. NewEdge Advisors LLC increased its position in shares of Ross Stores by 35.8% in the second quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer’s stock worth $1,350,000 after purchasing an additional 2,792 shares during the period. Treasurer of the State of North Carolina raised its stake in Ross Stores by 1.0% in the second quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer’s stock valued at $19,200,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Ross Stores by 2.2% in the second quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer’s stock valued at $1,605,000 after purchasing an additional 265 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is currently 21.55%.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.