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Ross Stores Q1 Earnings Meet Expectations; Forecast Boosted (ROST)

By Dividend.com,  May 17, 2012, 09:54:54 AM EDT

Discount apparel retailer Ross Stores, Inc. ( ROST ) on Thursday posted first quarter earnings results that matched Wall Street's view and lifted its full-year outlook.

The Pleasanton, CA-based company reported first quarter net income of $208.60 million, or 93 cents per share, compared with $173 million, or 74 cents per share, in the year-ago period.

On average, Wall Street analysts expected a matching profit of 93 cents per share.

Two weeks ago, Ross said its first quarter revenue totaled $2.36 billion.

Looking ahead, ROST forecast second quarter earnings of 72 to 75 cents per share, which would miss Wall Street's view of 76 cents. For the full year, the company lifted its outlook to a range of $3.26 to $3.37 per share, up from a prior forecast of $3.12 to $3.27. Analysts expect $3.38 per share for the year.

Ross Stores shares rose 97 cents, or +1.6%, in morning trading Thursday.

The Bottom Line
Shares of Ross Stores ( ROST ) have a .90% dividend yield, based on last night's closing stock price of $62.21. The stock has technical support in the $55-$57 price area. The shares are trading near all-time highs.

Ross Stores, Inc. ( ROST ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ROST



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