Wall Street brokerages expect TJX Companies Inc (NYSE:TJX) to post $8.52 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for TJX Companies’ earnings, with the highest sales estimate coming in at $8.61 billion and the lowest estimate coming in at $8.45 billion. TJX Companies reported sales of $7.78 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is expected to report its next quarterly earnings report on Tuesday, May 15th.
According to Zacks, analysts expect that TJX Companies will report full-year sales of $8.52 billion for the current year, with estimates ranging from $37.74 billion to $38.02 billion. For the next fiscal year, analysts anticipate that the business will report sales of $40.05 billion per share, with estimates ranging from $39.36 billion to $40.74 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow TJX Companies.
TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.10. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.75 billion. TJX Companies had a net margin of 7.27% and a return on equity of 55.23%. TJX Companies’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS.
A number of brokerages have issued reports on TJX. Goldman Sachs Group cut shares of TJX Companies from a “conviction-buy” rating to a “buy” rating and set a $79.00 target price for the company. in a research report on Tuesday, December 5th. Morgan Stanley lifted their target price on shares of TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. Royal Bank of Canada set a $91.00 target price on shares of TJX Companies and gave the stock a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research cut shares of TJX Companies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Nomura set a $87.00 target price on shares of TJX Companies and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.30.
Shares of TJX Companies (NYSE:TJX) traded up $0.21 on Tuesday, reaching $81.55. 1,850,137 shares of the company’s stock were exchanged, compared to its average volume of 4,591,572. The company has a current ratio of 1.66, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $51,850.00, a PE ratio of 18.93, a P/E/G ratio of 1.63 and a beta of 0.67. TJX Companies has a one year low of $66.44 and a one year high of $84.79.
TJX Companies announced that its board has initiated a stock repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the apparel and home fashions retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Ernie Herrman sold 11,000 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $83.64, for a total value of $920,040.00. Following the sale, the chief executive officer now directly owns 454,821 shares of the company’s stock, valued at $38,041,228.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Carol Meyrowitz sold 43,020 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $83.77, for a total transaction of $3,603,785.40. Following the completion of the sale, the chairman now directly owns 294,098 shares in the company, valued at $24,636,589.46. The disclosure for this sale can be found here. Insiders sold 77,855 shares of company stock worth $6,502,443 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zions Bancorporation grew its position in shares of TJX Companies by 185.9% during the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock worth $100,000 after acquiring an additional 883 shares during the last quarter. Farmers National Bank bought a new position in TJX Companies in the 4th quarter valued at about $106,000. Icon Wealth Partners LLC bought a new position in TJX Companies in the 4th quarter valued at about $109,000. Truewealth LLC bought a new position in TJX Companies in the 4th quarter valued at about $119,000. Finally, Assetmark Inc. grew its position in TJX Companies by 50.3% in the 4th quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock valued at $152,000 after buying an additional 664 shares in the last quarter. 91.07% of the stock is currently owned by hedge funds and other institutional investors.
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TJX Companies Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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