Ross Stores, Inc. (NASDAQ:ROST) declared a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Shareholders of record on Tuesday, June 11th will be given a dividend of 0.255 per share by the apparel retailer on Friday, June 28th. This represents a $1.02 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, June 10th.
NASDAQ ROST traded down $0.02 on Thursday, hitting $94.51. 2,735,731 shares of the stock were exchanged, compared to its average volume of 2,239,610. Ross Stores has a 52-week low of $75.91 and a 52-week 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 stock 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 data on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share for the quarter, topping 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 firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.05 billion. On average, research analysts forecast that Ross Stores will post 4.5 EPS for the current fiscal year.
ROST has been the topic of several research analyst reports. DA Davidson lifted 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. Guggenheim restated a “buy” rating and set a $105.00 price target on shares of Ross Stores in a report on Tuesday, March 5th. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Wednesday, January 23rd. Loop Capital boosted their price target on shares of Ross Stores to $105.00 and gave the company a “buy” rating in a report on Thursday, January 24th. Finally, Wells Fargo & Co boosted their price target on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $97.84.
Ross Stores declared that its board has authorized a stock repurchase program on Tuesday, March 5th that permits the company to buyback $2.55 billion in outstanding shares. This buyback authorization permits the apparel retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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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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