Telsey Advisory Group Comments on Dollar Tree, Inc.’s FY2023 Earnings (NASDAQ:DLTR)

Dollar Tree, Inc. (NASDAQ:DLTRGet Rating) – Research analysts at Telsey Advisory Group dropped their FY2023 earnings estimates for Dollar Tree in a report issued on Wednesday, November 23rd. Telsey Advisory Group analyst J. Feldman now expects that the company will post earnings per share of $7.22 for the year, down from their prior forecast of $7.36. Telsey Advisory Group has a “Outperform” rating and a $170.00 price objective on the stock. The consensus estimate for Dollar Tree’s current full-year earnings is $7.20 per share. Telsey Advisory Group also issued estimates for Dollar Tree’s Q4 2023 earnings at $2.05 EPS, Q2 2024 earnings at $1.76 EPS, Q3 2024 earnings at $1.61 EPS, Q4 2024 earnings at $2.50 EPS and FY2024 earnings at $8.08 EPS.

Dollar Tree (NASDAQ:DLTRGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.84 billion. Dollar Tree had a net margin of 5.84% and a return on equity of 19.82%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share.

DLTR has been the subject of a number of other research reports. Evercore ISI lowered their price target on shares of Dollar Tree from $170.00 to $160.00 in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Dollar Tree from $190.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. TheStreet raised shares of Dollar Tree from a “c+” rating to a “b-” rating in a research note on Monday, October 31st. StockNews.com initiated coverage on shares of Dollar Tree in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Morgan Stanley reduced their price objective on shares of Dollar Tree from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, August 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.13.

Dollar Tree Stock Performance

Shares of Dollar Tree stock opened at $150.14 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.38 and a quick ratio of 0.22. The firm has a market cap of $33.62 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.34 and a beta of 0.73. The firm has a 50 day simple moving average of $148.69 and a 200 day simple moving average of $153.94. Dollar Tree has a fifty-two week low of $123.62 and a fifty-two week high of $177.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in Dollar Tree by 15.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,225 shares of the company’s stock valued at $356,000 after purchasing an additional 303 shares during the period. Prospera Financial Services Inc lifted its holdings in shares of Dollar Tree by 60.3% during the 1st quarter. Prospera Financial Services Inc now owns 13,492 shares of the company’s stock worth $2,161,000 after acquiring an additional 5,073 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Dollar Tree by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 56,769 shares of the company’s stock worth $9,092,000 after acquiring an additional 184 shares during the period. Advisor Group Holdings Inc. increased its position in Dollar Tree by 33.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 51,018 shares of the company’s stock worth $7,018,000 after purchasing an additional 12,796 shares in the last quarter. Finally, Dowling & Yahnke LLC acquired a new position in Dollar Tree during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Dollar Tree

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Dollar Tree, Inc operates discount variety retail stores. It operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, including candy and food, and health and personal care, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.

Further Reading

Earnings History and Estimates for Dollar Tree (NASDAQ:DLTR)

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