Zacks: Brokerages Expect TJX Companies (TJX) Will Post Quarterly Sales of $8.52 Billion

Analysts forecast that TJX Companies (NYSE:TJX) will announce $8.52 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for TJX Companies’ earnings, with estimates ranging from $8.45 billion to $8.61 billion. TJX Companies reported sales of $7.78 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The company is scheduled to report its next earnings report on Tuesday, May 15th.

On average, analysts expect that TJX Companies will report full year sales of $37.85 billion for the current financial year, with estimates ranging from $37.74 billion to $38.02 billion. For the next year, analysts expect that the business will post sales of $40.05 billion per share, with estimates ranging from $39.36 billion to $40.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TJX Companies.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. TJX Companies had a return on equity of 55.23% and a net margin of 7.27%. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on TJX Companies from $86.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. Royal Bank of Canada set a $91.00 price objective on TJX Companies and gave the stock a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research cut TJX Companies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Cowen reiterated a “buy” rating and issued a $98.00 price objective on shares of TJX Companies in a report on Monday, April 9th. Finally, Nomura set a $87.00 price objective on TJX Companies and gave the stock a “buy” rating in a report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.60.

In other TJX Companies news, CEO Ernie Herrman sold 11,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $83.64, for a total value of $920,040.00. Following the completion of the sale, the chief executive officer now owns 454,821 shares in the company, valued at approximately $38,041,228.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Carol Meyrowitz sold 43,020 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $83.77, for a total value of $3,603,785.40. Following the completion of the sale, the chairman now owns 294,098 shares of the company’s stock, valued at approximately $24,636,589.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,855 shares of company stock valued at $6,502,443. Company insiders own 0.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of TJX Companies by 0.9% in the 4th quarter. BlackRock Inc. now owns 45,354,058 shares of the apparel and home fashions retailer’s stock worth $3,467,773,000 after acquiring an additional 425,832 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of TJX Companies by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 19,328,384 shares of the apparel and home fashions retailer’s stock worth $1,477,847,000 after acquiring an additional 728,422 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TJX Companies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 7,118,209 shares of the apparel and home fashions retailer’s stock worth $543,162,000 after acquiring an additional 211,836 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of TJX Companies by 5.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,095,183 shares of the apparel and home fashions retailer’s stock worth $542,498,000 after acquiring an additional 376,424 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of TJX Companies by 1.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 6,112,104 shares of the apparel and home fashions retailer’s stock worth $467,331,000 after acquiring an additional 95,862 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

TJX opened at $81.26 on Monday. TJX Companies has a 12-month low of $66.44 and a 12-month high of $85.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.66 and a quick ratio of 0.84. The stock has a market capitalization of $52,183.93, a PE ratio of 20.11, a PEG ratio of 1.65 and a beta of 0.67.

TJX Companies announced that its board has authorized a stock repurchase program on Wednesday, February 28th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the apparel and home fashions retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 17th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $1.56 annualized dividend and a yield of 1.92%. This is a boost from TJX Companies’s previous quarterly dividend of $0.31. TJX Companies’s dividend payout ratio (DPR) is 30.94%.

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About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer in the United States and internationally. 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, accent furniture, lamps, rugs, wall décor, decorative accessories, and giftware; seasonal items; jewelry; and other merchandise.

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Earnings History and Estimates for TJX Companies (NYSE:TJX)

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