Ross Stores (ROST) Stock Slides as Market Rises: Facts to Know Before You Trade

In the latest trading session, Ross Stores (ROST) closed at $152.69, marking a -2.23% move from the previous day. This move lagged the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.28%. The discount retailer's shares have seen an increase of 2.2% over the last month, surpassing the Retail-Wholesale sector's gain of 1.34% and falling behind the S&P 500's gain of 4.83%.The investment community will be paying close attention to the earnings performance of Ross Stores in its upcoming release. The company's earnings per share (EPS) are projected to be $1.4, reflecting a 5.41% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.38 billion, up 6.18% from the prior-year quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.2 per share and revenue of $22.12 billion, indicating changes of -1.9% and +4.67%, respectively, compared to the previous year. It is also important to note the recent changes to analyst estimates for Ross Stores. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% lower. Currently, Ross Stores is carrying a Zacks Rank of #3 (Hold). In the context of valuation, Ross Stores is at present trading with a Forward P/E ratio of 25.18. Its industry sports an average Forward P/E of 23.22, so one might conclude that Ross Stores is trading at a premium comparatively. It is also worth noting that ROST currently has a PEG ratio of 2.99. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 2.58 based on yesterday's closing prices. The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons 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 GainsQuantum 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks