Ross Stores (ROST) Stock Rises in After-Hours Trading as Earnings Top Estimates

Ross Stores (ROST) stock is up in after-hours trading on Thursday, after the company reported its 2015 third quarter earnings results after the market close today.
By Rachel Graf ,

NEW YORK (TheStreet) -- Ross Stores (ROST) - Get Report stock is advancing by 4.33% to $48.20 in after-hours trading on Thursday, following the release of the company's 2015 third quarter financial results after the market close today. 

The Dublin, CA-based off-price retailer posted earnings of 53 cents per share for the most recent quarter, up from 46 cents per share for the year ago period.

Revenue climbed by 7% year-over-year to, $2.783 billion for the quarter, higher than $2.599 for the 2014 third quarter. 

Comparable store sales rose by 3%, compared to last year's 4% gain. 

Analysts surveyed by Thomson Reuters expected the company to report earnings of 50 cents per share on revenue of $2.76 billion.

"We are pleased with the better-than-expected sales and earnings growth we achieved in the third quarter," CEO Barbara Rentler said in a statement. "These results demonstrate that customers continue to respond positively to the wide assortments of fresh and exciting bargains we offer throughout our stores."

Separately, TheStreet Ratings team rates ROSS STORES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

We rate ROSS STORES INC (ROST) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: ROST

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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