TJX Companies (TJX) Updates Q2 Earnings Guidance
TJX Companies (NYSE:TJX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of 0.62-0.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. TJX Companies also updated its FY20 guidance to $2.56-2.61 EPS.
Several analysts have weighed in on the company. Zacks Investment Research raised TJX Companies from a hold rating to a buy rating and set a $55.00 price objective on the stock in a research report on Monday, January 28th. MKM Partners lifted their price objective on TJX Companies from $58.00 to $61.00 and gave the company a buy rating in a research report on Thursday, February 28th. Robert W. Baird assumed coverage on TJX Companies in a research report on Monday, May 13th. They set an outperform rating and a $63.00 price objective on the stock. Morgan Stanley lifted their price objective on TJX Companies from $56.00 to $58.00 and gave the company an overweight rating in a research report on Thursday, February 28th. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $62.00 price objective (up from $56.00) on shares of TJX Companies in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $55.87.
Shares of TJX opened at $52.97 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. TJX Companies has a 52 week low of $41.49 and a 52 week high of $56.64. The company has a market capitalization of $64.43 billion, a PE ratio of 25.10, a P/E/G ratio of 1.86 and a beta of 0.66.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.23 dividend. This is a positive change from TJX Companies’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, May 15th. TJX Companies’s payout ratio is presently 43.60%.
TJX Companies declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 27th that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the apparel and home fashions retailer to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, CFO Scott Goldenberg sold 37,248 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.90, for a total value of $2,007,667.20. Following the completion of the transaction, the chief financial officer now directly owns 195,712 shares in the company, valued at approximately $10,548,876.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Sherr sold 43,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $54.08, for a total transaction of $2,325,440.00. Following the completion of the transaction, the executive vice president now owns 118,708 shares of the company’s stock, valued at $6,419,728.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,498 shares of company stock valued at $5,933,022. 0.18% of the stock is owned by company insiders.
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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, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.
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