Jefferies Group Weighs in on Dollar Tree, Inc.’s Q3 2018 Earnings (DLTR)
Dollar Tree, Inc. (NASDAQ:DLTR) – Research analysts at Jefferies Group increased their Q3 2018 earnings estimates for shares of Dollar Tree in a report released on Thursday. Jefferies Group analyst D. Binder now anticipates that the company will post earnings per share of $0.89 for the quarter, up from their previous forecast of $0.84. Jefferies Group has a “Hold” rating and a $85.00 price objective on the stock. Jefferies Group also issued estimates for Dollar Tree’s Q4 2018 earnings at $1.82 EPS.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.24 billion. Dollar Tree had a net margin of 4.37% and a return on equity of 18.07%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. WARNING: This news story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/27/jefferies-group-weighs-in-on-dollar-tree-inc-s-q3-2018-earnings-dltr.html.
Several other brokerages have also recently weighed in on DLTR. Gordon Haskett assumed coverage on Dollar Tree in a report on Tuesday, May 9th. They issued a “buy” rating and a $98.00 target price for the company. BTIG Research reiterated a “buy” rating and issued a $98.00 target price on shares of Dollar Tree in a report on Monday, May 22nd. Deutsche Bank AG upped their target price on Dollar Tree from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. BMO Capital Markets set a $88.00 target price on Dollar Tree and gave the stock a “hold” rating in a report on Friday, May 26th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of Dollar Tree in a report on Sunday, May 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $87.38.
Dollar Tree (NASDAQ DLTR) opened at 80.39 on Friday. The stock has a 50 day moving average of $72.34 and a 200-day moving average of $75.66. Dollar Tree has a 12 month low of $65.63 and a 12 month high of $91.41. The firm has a market cap of $19.04 billion, a P/E ratio of 20.57 and a beta of 0.68.
A number of large investors have recently added to or reduced their stakes in DLTR. Advisory Services Network LLC raised its position in shares of Dollar Tree by 0.6% in the second quarter. Advisory Services Network LLC now owns 1,924 shares of the company’s stock worth $135,000 after buying an additional 12 shares in the last quarter. Meristem LLP raised its position in shares of Dollar Tree by 0.3% in the first quarter. Meristem LLP now owns 4,520 shares of the company’s stock worth $355,000 after buying an additional 14 shares in the last quarter. Ironwood Investment Management LLC raised its position in shares of Dollar Tree by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 4,468 shares of the company’s stock worth $312,000 after buying an additional 31 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of Dollar Tree by 0.5% in the first quarter. Wetherby Asset Management Inc. now owns 6,621 shares of the company’s stock worth $519,000 after buying an additional 35 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position in shares of Dollar Tree by 2.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,877 shares of the company’s stock worth $131,000 after buying an additional 36 shares in the last quarter. Institutional investors own 91.56% of the company’s stock.
In other Dollar Tree news, Director Lemuel E. Lewis purchased 3,475 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was bought at an average cost of $71.45 per share, for a total transaction of $248,288.75. Following the completion of the purchase, the director now owns 12,744 shares in the company, valued at approximately $910,558.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Saunders sold 13,660 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $68.75, for a total value of $939,125.00. Following the completion of the sale, the director now owns 2,390,881 shares of the company’s stock, valued at $164,373,068.75. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 10,375 shares of company stock valued at $705,819. 4.10% of the stock is currently owned by company insiders.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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