The TJX Cos. (TJX) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS
The TJX Cos. (NYSE:TJX) released its quarterly earnings data on Tuesday. The apparel and home fashions retailer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.23 billion. The TJX Cos. had a return on equity of 52.69% and a net margin of 7.23%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. The TJX Cos. updated its Q4 guidance to $0.96-0.98 EPS.
The TJX Cos. (NYSE:TJX) opened at 73.49 on Wednesday. The firm has a market capitalization of $48.26 billion, a price-to-earnings ratio of 21.34 and a beta of 0.69. The TJX Cos. has a 52 week low of $63.53 and a 52 week high of $83.64. The company has a 50-day moving average of $73.97 and a 200-day moving average of $76.57.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, November 8th. The TJX Cos.’s payout ratio is presently 30.15%.
Several large investors have recently bought and sold shares of TJX. JPMorgan Chase & Co. increased its stake in The TJX Cos. by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 13,526,285 shares of the apparel and home fashions retailer’s stock valued at $1,011,496,000 after buying an additional 2,996,299 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in The TJX Cos. during the third quarter valued at approximately $202,524,000. The Manufacturers Life Insurance Company acquired a new stake in The TJX Cos. during the third quarter valued at approximately $192,116,000. Royal Bank of Canada increased its stake in The TJX Cos. by 22.8% in the second quarter. Royal Bank of Canada now owns 5,523,149 shares of the apparel and home fashions retailer’s stock valued at $426,553,000 after buying an additional 1,025,752 shares during the last quarter. Finally, AXA increased its stake in The TJX Cos. by 54.0% in the second quarter. AXA now owns 2,151,009 shares of the apparel and home fashions retailer’s stock valued at $166,122,000 after buying an additional 754,365 shares during the last quarter. 87.81% of the stock is owned by institutional investors.
TJX has been the topic of a number of recent research reports. Zacks Investment Research downgraded The TJX Cos. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $92.00 price objective on shares of The TJX Cos. in a report on Monday, August 1st. Jefferies Group set a $75.00 target price on The TJX Cos. and gave the stock a “hold” rating in a report on Tuesday, August 16th. Stifel Nicolaus reissued a “buy” rating and issued a $92.00 target price on shares of The TJX Cos. in a report on Wednesday, August 17th. Finally, Wedbush boosted their target price on The TJX Cos. from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $83.51.
The TJX Cos. 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 are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.
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