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Ross Stores (ROST) Beats Stock Market Upswing: What Investors Need to Know
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Ross Stores (ROST - Free Report) ended the recent trading session at $143.40, demonstrating a +0.96% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 0.09%.
Prior to today's trading, shares of the discount retailer had gained 0.72% over the past month. This has lagged the Retail-Wholesale sector's gain of 6.11% and the S&P 500's gain of 4.9% in that time.
The investment community will be closely monitoring the performance of Ross Stores in its forthcoming earnings report. The company is scheduled to release its earnings on November 21, 2024. It is anticipated that the company will report an EPS of $1.41, marking a 6.02% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.17 billion, up 5.01% from the prior-year quarter.
ROST's full-year Zacks Consensus Estimates are calling for earnings of $6.20 per share and revenue of $21.27 billion. These results would represent year-over-year changes of +11.51% and +4.39%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ross Stores. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ross Stores is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Ross Stores is presently trading at a Forward P/E ratio of 22.91. This denotes a premium relative to the industry's average Forward P/E of 19.98.
It's also important to note that ROST currently trades at a PEG ratio of 2.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.3.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ross Stores (ROST) Beats Stock Market Upswing: What Investors Need to Know
Ross Stores (ROST - Free Report) ended the recent trading session at $143.40, demonstrating a +0.96% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 0.09%.
Prior to today's trading, shares of the discount retailer had gained 0.72% over the past month. This has lagged the Retail-Wholesale sector's gain of 6.11% and the S&P 500's gain of 4.9% in that time.
The investment community will be closely monitoring the performance of Ross Stores in its forthcoming earnings report. The company is scheduled to release its earnings on November 21, 2024. It is anticipated that the company will report an EPS of $1.41, marking a 6.02% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.17 billion, up 5.01% from the prior-year quarter.
ROST's full-year Zacks Consensus Estimates are calling for earnings of $6.20 per share and revenue of $21.27 billion. These results would represent year-over-year changes of +11.51% and +4.39%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ross Stores. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ross Stores is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Ross Stores is presently trading at a Forward P/E ratio of 22.91. This denotes a premium relative to the industry's average Forward P/E of 19.98.
It's also important to note that ROST currently trades at a PEG ratio of 2.3. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.3.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 34, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.