Ross Stores Faces Expectations of Lower Q2 Earnings Amidst Analyst Revisions
Ross Stores Anticipates Decrease in Q2 Earnings
Ross Stores, Inc. (NASDAQ: ROST) is preparing to unveil its financial outcomes for the second quarter after the market closes. Analysts are forecasting the company will report earnings of $1.54 per share, a slight decline from the previous year's figure of $1.59 per share.
Financial Projections for Ross Stores
The retail giant is projected to record revenues of $5.54 billion for the quarter, up from $5.29 billion in the same period last year. These estimates reflect optimism around increased revenue despite the anticipated earnings drop. The upcoming earnings call is keenly anticipated by investors looking for accurate indicators of the company's performance.
Latest Dividend Announcement
In a recent development, Ross Stores announced a quarterly cash dividend of $0.405 per share, indicating the company's commitment to returning value to its shareholders. This decision reinforces confidence amongst investors, even amid the anticipated earnings fluctuation.
Current Market Performance
As of the latest trading session, Ross Stores shares experienced a slight decline, closing at $146.35, marking a 1% drop. This performance reflects broader market trends and investor sentiment as they await the financial report.
Analyst Ratings and Insights
Investors are turning to analysts for insights about the future of ROST stock. The perspectives from some of the most reputable analysts show varying price targets:
Ratings Overview
- Telsey Advisory Group has retained a Market Perform rating with a price target of $150, reflecting a 69% accuracy rate.
- JP Morgan's Matthew Boss keeps an Overweight rating while adjusting the price target from $154 to $156, marking a 67% accuracy rate.
- Wells Fargo's Ike Boruchow also maintained an Overweight rating, yet lowered the price target from $155 to $150, boasting a 72% accuracy rate.
- Loop Capital's Laura Champine holds a Buy rating and revised the price target from $175 to $170, underscoring a 64% accuracy rate.
- Barclays' Adrienne Yih has also kept an Overweight rating, slashing the price target from $157 to $156, based on a 67% accuracy rate.
Should You Consider Investing in ROST?
With upcoming earnings and analysts’ revisions influencing perceptions, many investors are contemplating whether to buy ROST stock. Analysts are keenly observing these developments, and their projections might change depending on the quarterly results.
Frequently Asked Questions
What are Ross Stores' expected earnings for Q2?
The expected earnings are projected to be $1.54 per share, slightly down from $1.59 per share from the previous year.
What revenue does Ross Stores anticipate for the current quarter?
Ross Stores anticipates quarterly revenue of $5.54 billion, an increase compared to $5.29 billion from a year ago.
What dividend has Ross Stores declared recently?
The company recently declared a quarterly cash dividend of $0.405 per common share.
How did Ross Stores’ stock perform recently?
The stock closed at $146.35 with a decline of 1% in the last trading session.
What do analysts say about Ross Stores’ stock ratings?
Analysts have varying opinions, with several maintaining Overweight ratings and adjusting price targets based on market conditions.
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