TJX Companies (NYSE:TJX) Updates Q2 2023 Earnings Guidance

TJX Companies (NYSE:TJXGet Rating) issued an update on its second quarter 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.65-$0.69 for the period, compared to the consensus EPS estimate of $0.75. The company issued revenue guidance of -.TJX Companies also updated its FY 2023 guidance to $3.13-$3.20 EPS.

Shares of TJX stock opened at $61.05 on Wednesday. The stock has a market capitalization of $71.53 billion, a PE ratio of 22.20, a P/E/G ratio of 1.85 and a beta of 0.88. TJX Companies has a 1-year low of $53.69 and a 1-year high of $77.35. The business has a 50-day moving average of $61.47 and a 200 day moving average of $66.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.25 and a quick ratio of 0.55.

TJX Companies (NYSE:TJXGet Rating) last released its earnings results on Wednesday, May 18th. The apparel and home fashions retailer reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. TJX Companies had a return on equity of 61.28% and a net margin of 6.69%. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $11.58 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts anticipate that TJX Companies will post 3.18 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.93%. TJX Companies’s dividend payout ratio (DPR) is currently 42.91%.

TJX has been the subject of a number of analyst reports. Gordon Haskett reduced their price objective on shares of TJX Companies from $81.00 to $78.00 and set a buy rating for the company in a research note on Thursday, February 24th. Citigroup reduced their target price on shares of TJX Companies from $81.00 to $78.00 and set a buy rating on the stock in a research note on Thursday, February 24th. Sanford C. Bernstein initiated coverage on shares of TJX Companies in a research note on Monday, March 14th. They issued a market perform rating and a $68.00 price target on the stock. TheStreet downgraded shares of TJX Companies from a b rating to a c+ rating in a research report on Wednesday, May 18th. Finally, Bank of America lowered their price target on shares of TJX Companies from $95.00 to $85.00 and set a buy rating on the stock in a report on Thursday, February 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, TJX Companies currently has a consensus rating of Buy and a consensus price target of $77.60.

In other news, EVP Kenneth Canestrari sold 35,827 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $61.04, for a total value of $2,186,880.08. Following the completion of the transaction, the executive vice president now owns 160,899 shares of the company’s stock, valued at $9,821,274.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Sherr sold 46,997 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $62.25, for a total value of $2,925,563.25. Following the transaction, the executive vice president now directly owns 104,127 shares of the company’s stock, valued at approximately $6,481,905.75. The disclosure for this sale can be found here. Insiders have sold a total of 112,824 shares of company stock worth $6,973,343 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zullo Investment Group Inc. bought a new position in shares of TJX Companies during the 4th quarter worth approximately $49,000. First Community Trust NA bought a new position in TJX Companies in the 4th quarter valued at $57,000. Fairfield Bush & CO. acquired a new stake in shares of TJX Companies in the 1st quarter valued at $68,000. Covestor Ltd increased its stake in shares of TJX Companies by 80.5% in the 1st quarter. Covestor Ltd now owns 2,914 shares of the apparel and home fashions retailer’s stock valued at $177,000 after buying an additional 1,300 shares during the period. Finally, KC Investment Advisors LLC acquired a new stake in shares of TJX Companies in the 1st quarter valued at $204,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.

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

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