Analysts Expect Another Earnings Beat From Ross Stores (ROST)

Last Updated: Friday, May 17, 2019 3:34 PM | Michael Fowlkes

What's Happening with ROST

Ross Stores (ROST) reports Q1 earnings after the market close May 23. Analysts expect earnings of $1.12 per share on sales of $3.8 billion, up slightly from $1.11 and $3.6 billion during the same period last year. ROST shares are up 16.3% on the year.

Technical Analysis

ROST stock was recently trading at $97.19 down $7.16 from its 12-month high and $21.28 above its 12-month low. InvestorsObserver's Stock Score Report gives ROST a 75 long-term technical score and a 65 short-term technical score. The stock has recent support above $90 and recent resistance below $100. Of the 20 analysts who cover the stock 11 rate it Strong Buy, 0 rate it Buy, 9 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, ROST gets a score of 63 from InvestorsObserver's Stock Score Report.

Analysts' Thoughts

ROST stock has rebounded strongly after a steep sell off in the final months of 2018 and has avoided most of the recent selling pressure the market experienced as trade negotiations between the U.S. and China eroded and new tariffs were put in place by both nations. Off-priced retailers have outperformed the overall retail sector, and Ross Stores is currently just 6.7% below its all-time high and should approach its record high on the back of a strong quarterly report. If a true trade war erupts between the U.S. and China and consumers start to see a rise in prices off-priced retailers should show extra strength. The stock is reasonably priced at 19 times future earnings and analysts expect profit growth of 10% annually over the next five years. The company has posted better than expected earnings 11 straight quarters and the street expects another earnings beat this quarter with a whisper number of $1.15. Analysts have an average price target of $97.84 on the stock.

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