TJX Companies (TJX) Announces Earnings Results, Beats Expectations By $0.11 EPS

TJX Companies (NYSE:TJX) released its quarterly earnings results on Tuesday. The apparel and home fashions retailer reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11, Bloomberg Earnings reports. The business had revenue of $8.67 billion for the quarter, compared to analyst estimates of $8.47 billion. TJX Companies had a return on equity of 55.23% and a net margin of 7.27%. TJX Companies’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. TJX Companies updated its Q2 guidance to $0.87-0.89 EPS and its FY19 guidance to $4.04-4.10 EPS.

Shares of TJX Companies traded up $1.44, reaching $86.14, during trading hours on Tuesday, MarketBeat Ratings reports. The company had a trading volume of 131,785 shares, compared to its average volume of 3,280,829. The company has a quick ratio of 0.84, a current ratio of 1.66 and a debt-to-equity ratio of 0.43. The company has a market cap of $53.16 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66. TJX Companies has a 1-year low of $66.44 and a 1-year high of $87.31.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 17th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.81%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 16th. TJX Companies’s dividend payout ratio (DPR) is presently 38.61%.

In other news, CFO Scott Goldenberg sold 16,344 shares of the stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $83.01, for a total value of $1,356,715.44. Following the transaction, the chief financial officer now owns 86,024 shares of the company’s stock, valued at approximately $7,140,852.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Carol Meyrowitz sold 43,020 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $83.77, for a total value of $3,603,785.40. Following the completion of the transaction, the chairman now directly owns 294,098 shares in the company, valued at approximately $24,636,589.46. The disclosure for this sale can be found here. In the last three months, insiders sold 114,199 shares of company stock worth $9,532,558. 0.22% of the stock is currently owned by company insiders.

TJX Companies declared that its board has authorized a share buyback 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of research firms recently commented on TJX. Morgan Stanley increased their price target on TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 2nd. OTR Global began coverage on TJX Companies in a research report on Tuesday, May 8th. They set a “positive” rating on the stock. Royal Bank of Canada set a $91.00 price target on TJX Companies and gave the stock a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered TJX Companies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Cowen restated a “buy” rating and set a $98.00 price target on shares of TJX Companies in a research report on Monday, April 9th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. TJX Companies presently has an average rating of “Buy” and an average price target of $87.75.

About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

Earnings History for TJX Companies (NYSE:TJX)

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