In the latest close session, Ross Stores (ROST) was down 1.24% at $222.41. The stock's change was less than the S&P 500's daily gain of 0.6%. Meanwhile, the Dow experienced a rise of 0.83%, and the technology-dominated Nasdaq saw an increase of 0.64%.
Prior to today's trading, shares of the discount retailer had lost 0.12% was narrower than the Retail-Wholesale sector's loss of 1.58% and lagged the S&P 500's gain of 1.34%.
Investors will be eagerly watching for the performance of Ross Stores in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.82, marking a 15.19% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6.2 billion, showing a 10.68% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.77 per share and a revenue of $25.65 billion, indicating changes of +32.68% and +12.77%, respectively, from the former year.
Any recent changes to analyst estimates for Ross Stores should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Ross Stores possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Ross Stores is holding a Forward P/E ratio of 25.67. This indicates a premium in contrast to its industry's Forward P/E of 23.24.
One should further note that ROST currently holds a PEG ratio of 1.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ROST's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ross Stores, Inc. (ROST): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).