TJX Companies (NYSE:TJX) Issues FY 2023 Earnings Guidance

TJX Companies (NYSE:TJX – Get Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.13-$3.20 for the period, compared to the consensus EPS estimate of $3.15. The company issued revenue guidance of -.TJX Companies also updated its Q2 2023 guidance to $0.65-$0.69 EPS.

Shares of NYSE TJX traded up $0.48 during midday trading on Friday, hitting $64.59. 6,524,619 shares of the company’s stock were exchanged, compared to its average volume of 7,667,073. The company has a quick ratio of 0.70, a current ratio of 1.25 and a debt-to-equity ratio of 0.60. TJX Companies has a 12 month low of $53.69 and a 12 month high of $77.35. The company’s 50 day moving average price is $61.27 and its 200 day moving average price is $66.72. The firm has a market capitalization of $75.86 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88.

TJX Companies (NYSE:TJX – Get Rating) last issued its earnings results on Wednesday, May 18th. The apparel and home fashions retailer reported $0.68 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $11.58 billion. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts anticipate that TJX Companies will post 3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 12th will be issued a dividend of $0.295 per share. This is a boost from TJX Companies’s previous quarterly dividend of $0.26. This represents a $1.18 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, May 11th. TJX Companies’s dividend payout ratio (DPR) is presently 42.91%.

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their price objective on TJX Companies from $80.00 to $75.00 in a report on Thursday, February 24th. TheStreet cut TJX Companies from a b rating to a c+ rating in a report on Wednesday, May 18th. Truist Financial dropped their price objective on TJX Companies from $88.00 to $82.00 in a report on Thursday, February 24th. Morgan Stanley lifted their price objective on TJX Companies from $78.00 to $80.00 and gave the company an overweight rating in a report on Thursday, May 19th. Finally, Credit Suisse Group lifted their price objective on TJX Companies from $73.00 to $75.00 and gave the company an outperform rating in a report on Thursday, May 19th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $77.60.

In related news, CFO Scott Goldenberg sold 30,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $62.03, for a total value of $1,860,900.00. Following the sale, the chief financial officer now owns 119,127 shares in the company, valued at $7,389,447.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Canestrari sold 35,827 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $61.04, for a total value of $2,186,880.08. Following the sale, the executive vice president now owns 160,899 shares in the company, valued at approximately $9,821,274.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. qPULA Trading Management LP purchased a new position in shares of TJX Companies during the first quarter valued at approximately $376,000. Continuum Advisory LLC purchased a new position in shares of TJX Companies during the first quarter valued at approximately $376,000. MidWestOne Financial Group Inc. lifted its holdings in shares of TJX Companies by 42.5% during the first quarter. MidWestOne Financial Group Inc. now owns 5,698 shares of the apparel and home fashions retailer’s stock valued at $345,000 after purchasing an additional 1,698 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of TJX Companies during the fourth quarter valued at approximately $304,000. Finally, Enlightenment Research LLC purchased a new position in shares of TJX Companies during the first quarter valued at approximately $242,000. 91.45% of the stock is currently owned by institutional investors.

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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