NEW YORK (TheStreet) -- Ross Stores (ROST) shares are climbing, up 0.44% to $102 per share, in after-hours trading on Thursday following the release of the Dublin, CA-based retailer's first quarter earnings results after the closing bell today.
The company reported first quarter net income of $282.2 million, or $1.37 cents per share, topping analysts $1.28 cent per share expectations for the period by 9 cents. Revenue of $2.94 billion for the period also topped analyst expectations of $2.89 billion in revenue.
For the current quarter, the company forecast a 2% to 4% year over year increase in same store sales and earnings between $1.19 and $1.24 per share. Analysts on average are expecting the company to report earnings of $1.26 per share.
The company is scheduled to proceed with a two-for-one stock split next month and on that basis the company expects an EPS between 59 cents and 62 cents per share.
TheStreet Ratings team rates ROSS STORES INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ROSS STORES INC (ROST) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: ROST Ratings Report