Brokerages expect TJX Companies Inc (NYSE:TJX) to post $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for TJX Companies’ earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.06. TJX Companies posted earnings per share of $0.85 during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.4%. The business is expected to issue its next quarterly earnings results on Tuesday, August 21st.
According to Zacks, analysts expect that TJX Companies will report full year earnings of $4.84 per share for the current financial year, with EPS estimates ranging from $4.78 to $4.90. For the next fiscal year, analysts expect that the business will post earnings of $5.34 per share, with EPS estimates ranging from $5.02 to $5.58. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow TJX Companies.
TJX Companies (NYSE:TJX) last released its quarterly earnings results on Tuesday, May 22nd. The apparel and home fashions retailer reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. TJX Companies had a return on equity of 56.91% and a net margin of 7.58%. The company had revenue of $8.67 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year.
A number of research firms have recently weighed in on TJX. Morgan Stanley boosted their price target on TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. OTR Global began coverage on TJX Companies in a report on Tuesday, May 8th. They issued a “positive” rating for the company. Nomura boosted their price target on TJX Companies from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, June 4th. Royal Bank of Canada set a $91.00 target price on TJX Companies and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Wedbush assumed coverage on TJX Companies in a research note on Friday. They issued a “neutral” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. TJX Companies currently has a consensus rating of “Buy” and an average target price of $90.46.
NYSE TJX opened at $95.08 on Friday. TJX Companies has a fifty-two week low of $66.44 and a fifty-two week high of $96.82. The firm has a market capitalization of $59.44 billion, a PE ratio of 23.53, a P/E/G ratio of 1.85 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 1.69 and a debt-to-equity ratio of 0.42.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.56 annualized dividend and a yield of 1.64%. TJX Companies’s dividend payout ratio is presently 38.61%.
TJX Companies announced that its Board of Directors has approved a stock buyback program on Wednesday, February 28th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the apparel and home fashions retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Amy B. Lane sold 500 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $88.05, for a total value of $44,025.00. Following the completion of the sale, the director now owns 15,498 shares of the company’s stock, valued at $1,364,598.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott Goldenberg sold 16,344 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 86,024 shares of the company’s stock, valued at approximately $7,140,852.24. The disclosure for this sale can be found here. Insiders have sold 39,064 shares of company stock valued at $3,269,567 over the last 90 days. 0.22% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TJX Companies in the first quarter worth about $1,800,000. BKD Wealth Advisors LLC purchased a new position in TJX Companies in the first quarter valued at about $250,000. Amalgamated Bank boosted its holdings in TJX Companies by 10.8% in the first quarter. Amalgamated Bank now owns 93,229 shares of the apparel and home fashions retailer’s stock valued at $7,604,000 after purchasing an additional 9,104 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in TJX Companies by 24.0% in the first quarter. Summit Trail Advisors LLC now owns 56,706 shares of the apparel and home fashions retailer’s stock valued at $3,321,000 after purchasing an additional 10,971 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in TJX Companies by 2.8% in the first quarter. Principal Financial Group Inc. now owns 1,801,237 shares of the apparel and home fashions retailer’s stock valued at $146,908,000 after purchasing an additional 49,119 shares during the last quarter. 90.24% of the stock is owned by institutional investors.
TJX Companies Company Profile
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.
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