Dollar Tree Inc. (DLTR) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Dollar Tree Inc. (NASDAQ:DLTR) announced its quarterly earnings results on Tuesday. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The firm earned $5 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Dollar Tree updated its Q4 guidance to $1.24-1.33 EPS.
Dollar Tree (NASDAQ:DLTR) opened at 81.99 on Tuesday. The firm has a 50-day moving average of $77.05 and a 200-day moving average of $85.75. The firm has a market cap of $19.33 billion, a P/E ratio of 27.20 and a beta of 0.57. Dollar Tree has a 12-month low of $68.51 and a 12-month high of $99.93.
In related news, insider Barry W. Sullivan sold 2,449 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $83.21, for a total value of $203,781.29. Following the completion of the sale, the insider now directly owns 8,904 shares in the company, valued at approximately $740,901.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Conrad M. Hall bought 5,000 shares of Dollar Tree stock in a transaction that occurred on Monday, August 29th. The stock was bought at an average price of $85.60 per share, with a total value of $428,000.00. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at approximately $68,394.40. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Columbus Circle Investors bought a new stake in Dollar Tree during the second quarter valued at $61,631,000. Standard Life Investments LTD raised its stake in Dollar Tree by 38.5% in the second quarter. Standard Life Investments LTD now owns 2,797,544 shares of the company’s stock valued at $263,654,000 after buying an additional 777,451 shares during the period. Retirement Systems of Alabama raised its stake in Dollar Tree by 1.8% in the second quarter. Retirement Systems of Alabama now owns 120,093 shares of the company’s stock valued at $11,318,000 after buying an additional 2,111 shares during the period. Calamos Advisors LLC acquired a new position in shares of Dollar Tree during the second quarter worth approximately $28,225,000. Finally, Rail Splitter Capital Management LLC raised its position in shares of Dollar Tree by 2.7% in the second quarter. Rail Splitter Capital Management LLC now owns 127,231 shares of the company’s stock worth $11,990,000 after buying an additional 3,310 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Several brokerages have recently weighed in on DLTR. Credit Suisse Group AG set a $69.00 price target on shares of Dollar Tree and gave the stock a “sell” rating in a research report on Wednesday, October 5th. Cleveland Research cut shares of Dollar Tree from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 4th. Deutsche Bank AG raised shares of Dollar Tree from a “hold” rating to a “buy” rating and upped their price target for the stock from $82.00 to $110.00 in a research report on Monday, August 1st. Atlantic Securities cut shares of Dollar Tree from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $87.00 to $68.00 in a research report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $101.00 price target on shares of Dollar Tree in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $91.14.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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