What's Happening with ROST
Discount retailer Ross Stores (ROST) reports its third-quarter earnings after the market close November 21 with the consensus calling for earnings of $0.97 per share. Ross Stores earned $0.91 during the same period last year and the stock has risen 36% year to date.
Technical Analysis
ROST was recently trading at $113.25 down $1.58 from its 12-month high and $37.34 above its 12-month low. InvestorsObserver's Stock Score Report gives ROST a 77 long-term technical score and a 57 short-term technical score. The stock has recent support above $105 and recent resistance below $115. Of the 20 analysts who cover the stock 11 rate it Strong Buy, 1 rate it Buy, 8 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, ROST gets a score of 58 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
The strong overall economy continues to boost consumer confidence, and the retail sector has continued to show strength. Within the retail space, discount retailer has thrived, and Ross Stores (ROST) has been a top performer with shares up 36% in 2019 alone. The strong gain has been a result of 13 straight positive earnings surprises and sales have topped estimates each of the last three quarters. The stock is trading just below its all-time high, and shares are currently priced at 25 times earnings. Profits are up 17% annually the last five years and are expected to rise at another 9% per annum over the next five years. The street expects the company to post another positive earnings surprise with a whisper number of $0.98 for the quarter. Given the market's bullish sentiment on retailers, and discount retailers in particular, the stock should build on its recent gains barring any negative surprises in the quarterly report.