ROSS STORES, INC. (ROST) Jun 2024 Earnings Report
Ross Stores, Inc.: Investment Report
Overview
Ross Stores, Inc. is a leading off-price retail apparel and home fashion chain in the United States, operating under the Ross Dress for Less and dd's DISCOUNTS brand names. The company's business model focuses on offering a wide range of products at competitive prices, making it an attractive option for budget-conscious consumers. With a strong track record of delivering solid financial performance and a robust business model, Ross Stores, Inc. is an attractive investment opportunity. This report provides an in-depth analysis of the company's financial performance, growth prospects, and recent news and updates.
Core Metrics
- Current price: $145.65
- 52-week high: $151.12
- 52-week low: $106.47
- Market Cap: $48.64 billion
- P/E Ratio: 24.56
- Earnings per Share: $5.93
- 50-day average: $136.05
- 200-day average: $132.50
- Analyst Recommendations: Buy (19 analysts)
Financial Performance
Ross Stores, Inc. has consistently delivered strong financial performance, driven by its robust business model and disciplined cost management. The company's revenue growth rate stands at 8.1%, driven by increased sales and a strong same-store sales performance. The company's gross margin stands at 32.4%, while its EBITDA margin is 13.85%. Ross Stores, Inc. has a solid balance sheet, with a total cash balance of $4.65 billion and a free cash flow of $1.23 billion.
Growth Prospects
Ross Stores, Inc. has a strong growth trajectory, driven by its expansion plans, increasing market share, and improving same-store sales performance. The company aims to grow its store count, expand its e-commerce capabilities, and enhance its customer experience. With a strong track record of delivering solid financial performance and a robust business model, Ross Stores, Inc. is well-positioned to continue its growth momentum.
News and Updates
Recent news articles have highlighted Ross Stores, Inc.'s strong financial performance, strategic expansion plans, and solid business model. The company's Q1 earnings and sales beat estimates, driven by a favorable response to its quality and branded bargains. Additionally, the company has been recognized for its commitment to veterans, with the appointment of Christina Rost as director of Ramsey County Veterans Services.
Upgrades and Downgrades
Guggenheim, Barclays, Wells Fargo, and UBS have all reaffirmed their buy or overweight ratings on Ross Stores, Inc. following its strong Q1 earnings report. TD Cowen, Evercore ISI Group, and Morgan Stanley have also reiterated their buy ratings on the stock.
Summary
In conclusion, Ross Stores, Inc. presents a compelling investment opportunity, driven by its strong financial performance, robust business model, and solid growth prospects. With a strong track record of delivering solid earnings and sales growth, the company is well-positioned to continue its growth momentum. We recommend a buy rating on the stock, driven by its attractive valuation, strong financial performance, and solid growth prospects.
Disclosures
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