Ross Stores (NASDAQ:ROST) issued an update on its second quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.06-1.11 for the period, compared to the Thomson Reuters consensus estimate of $1.14. Ross Stores also updated its FY 2019 guidance to $4.38-4.52 EPS.

NASDAQ:ROST traded down $0.02 during mid-day trading on Thursday, hitting $94.51. The company’s stock had a trading volume of 2,735,731 shares, compared to its average volume of 2,239,610. Ross Stores has a 1 year low of $75.91 and a 1 year high of $104.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 1.69. The firm has a market cap of $34.73 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.08 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.13 by $0.07. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.05 billion. As a group, equities research analysts predict that Ross Stores will post 4.5 earnings per share for the current fiscal year.

Ross Stores announced that its board has approved a stock repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

A number of brokerages have weighed in on ROST. Loop Capital upped their price objective on shares of Ross Stores to $105.00 and gave the stock a buy rating in a research report on Thursday, January 24th. Guggenheim reiterated a buy rating and issued a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. Wells Fargo & Co upped their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. BidaskClub downgraded shares of Ross Stores from a hold rating to a sell rating in a research report on Wednesday, March 13th. Finally, DA Davidson upped their price objective on shares of Ross Stores to $92.00 and gave the stock a neutral rating in a research report on Thursday, March 7th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $97.84.

In related news, EVP Michael J. Hartshorn sold 9,924 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total transaction of $907,847.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard G. Brautigan sold 19,384 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total transaction of $1,813,567.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,054 shares of company stock valued at $12,504,328. Insiders own 2.30% of the company’s stock.

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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. Its stores 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.

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Earnings History and Estimates for Ross Stores (NASDAQ:ROST)

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