TJX Companies (NYSE:TJX) Posts Earnings Results, Beats Estimates By $0.06 EPS

TJX Companies (NYSE:TJX) issued its quarterly earnings results on Wednesday. The apparel and home fashions retailer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06, Briefing.com reports. The business had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $12.48 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share.

TJX Companies Trading Down 0.1 %

TJX stock opened at $97.69 on Wednesday. The company’s 50-day simple moving average is $97.09 and its 200-day simple moving average is $94.93. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.39. TJX Companies has a 52-week low of $75.65 and a 52-week high of $102.84. The firm has a market cap of $110.67 billion, a P/E ratio of 25.31, a PEG ratio of 2.50 and a beta of 0.87.

TJX Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.54%. This is a positive change from TJX Companies’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 15th. TJX Companies’s dividend payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

TJX has been the topic of a number of recent analyst reports. UBS Group raised TJX Companies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $132.00 in a research report on Thursday, May 2nd. Evercore ISI set a $113.00 target price on TJX Companies in a research report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and issued a $112.00 target price on shares of TJX Companies in a research report on Friday, May 17th. The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $110.00 in a research report on Thursday, April 25th. Finally, TD Cowen upped their target price on TJX Companies from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.56.

Insider Transactions at TJX Companies

In other news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the sale, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares in the company, valued at approximately $4,968,480.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the transaction, the chief executive officer now owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

TJX Companies announced that its board has initiated a stock repurchase program on Wednesday, February 28th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the apparel and home fashions retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

TJX Companies Company Profile

The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. 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, and gourmet food departments; jewelry and accessories; and other merchandise.