TJX Companies (NYSE:TJX) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

TJX Companies (NYSE:TJX – Get Rating) released its earnings results on Wednesday. The apparel and home fashions retailer reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08, MarketWatch Earnings reports. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $11.58 billion. TJX Companies had a return on equity of 55.47% and a net margin of 6.76%. TJX Companies’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share.

NYSE TJX traded down $0.32 during trading hours on Thursday, hitting $59.87. 43,611 shares of the company were exchanged, compared to its average volume of 7,043,315. The stock has a 50-day moving average price of $61.37 and a 200 day moving average price of $67.10. The company has a quick ratio of 0.70, a current ratio of 1.27 and a debt-to-equity ratio of 0.56. TJX Companies has a 52 week low of $53.69 and a 52 week high of $77.35. The stock has a market cap of $70.31 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Thursday, May 12th will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.97%. This is a boost from TJX Companies’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, May 11th. TJX Companies’s payout ratio is 43.70%.

Several equities analysts recently weighed in on the company. Barclays lifted their target price on TJX Companies from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, April 13th. Robert W. Baird lowered their target price on TJX Companies from $78.00 to $74.00 in a research report on Thursday. Wells Fargo & Company cut TJX Companies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $75.00 to $60.00 in a report on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft decreased their price target on TJX Companies from $83.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, February 24th. Finally, Citigroup decreased their price target on TJX Companies from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 24th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, TJX Companies presently has an average rating of “Buy” and a consensus target price of $77.50.

Large investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of TJX Companies by 2.6% in the second quarter. Morgan Stanley now owns 8,778,073 shares of the apparel and home fashions retailer’s stock valued at $591,818,000 after purchasing an additional 223,003 shares during the period. Ontario Teachers Pension Plan Board bought a new position in TJX Companies in the first quarter worth approximately $408,331,000. Charles Schwab Investment Management Inc. raised its stake in TJX Companies by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,297,587 shares of the apparel and home fashions retailer’s stock worth $381,508,000 after buying an additional 131,561 shares in the last quarter. Renaissance Technologies LLC bought a new position in TJX Companies in the first quarter worth approximately $116,429,000. Finally, Federated Hermes Inc. raised its stake in TJX Companies by 0.9% in the first quarter. Federated Hermes Inc. now owns 1,841,773 shares of the apparel and home fashions retailer’s stock worth $111,574,000 after buying an additional 16,544 shares in the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

About TJX Companies (Get Rating)

The TJX Companies, Inc, together with its subsidiaries, 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; and other merchandise.

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