Ross Stores (ROST) Outpaces Stock Market Gains: What You Should Know

In the latest market close, Ross Stores (ROST) reached $152.92, with a +1.84% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.25%.Prior to today's trading, shares of the discount retailer had lost 0.74% over the past month. This has lagged the Retail-Wholesale sector's gain of 5.57% and the S&P 500's gain of 1.24% in that time.The upcoming earnings release of Ross Stores will be of great interest to investors. On that day, Ross Stores is projected to report earnings of $1.65 per share, which would represent a year-over-year decline of 9.34%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.92 billion, indicating a 1.77% decrease compared to the same quarter of the previous year.ROST's full-year Zacks Consensus Estimates are calling for earnings of $6.17 per share and revenue of $21.13 billion. These results would represent year-over-year changes of +10.97% and +3.71%, respectively.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ross Stores. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Ross Stores currently has a Zacks Rank of #2 (Buy).In the context of valuation, Ross Stores is at present trading with a Forward P/E ratio of 24.32. This valuation marks a premium compared to its industry's average Forward P/E of 20.87.Also, we should mention that ROST has a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 2.36.The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks