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The most recent trading session ended with Ross Stores (ROST) standing at $139.37, reflecting a -0.24% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.06%. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq lost 0.1%.
The discount retailer's shares have seen an increase of 11.39% over the last month, surpassing the Retail-Wholesale sector's loss of 2.65% and the S&P 500's loss of 4.29%.
Investors will be eagerly watching for the performance of Ross Stores in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.42, marking a 2.74% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.95 billion, up 1.97% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.41 per share and revenue of $21.9 billion, which would represent changes of +1.42% and +3.64%, respectively, from the prior year.
Any recent changes to analyst estimates for Ross Stores should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.02% rise in the Zacks Consensus EPS estimate. Ross Stores is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Ross Stores is currently trading at a Forward P/E ratio of 21.81. This denotes no noticeable deviation relative to the industry's average Forward P/E of 21.81.
It is also worth noting that ROST currently has a PEG ratio of 2.72. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Retail - Discount Stores was holding an average PEG ratio of 2.64 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 39% echelons of all 250+ industries.