TJX Companies (NYSE:TJX) Issues FY 2024 Earnings Guidance

TJX Companies (NYSE:TJX – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of $3.39-$3.48 for the period, compared to the consensus EPS estimate of $3.55. The company issued revenue guidance of $52.70 billion-$53.20 billion, compared to the consensus revenue estimate of $53.26 billion. TJX Companies also updated its Q2 2024 guidance to $0.72-$0.75 EPS.

TJX Companies Stock Up 1.4 %

TJX traded up $1.07 during trading on Friday, reaching $77.01. 2,471,871 shares of the stock traded hands, compared to its average volume of 5,062,982. The stock has a market cap of $88.68 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 2.06 and a beta of 0.91. TJX Companies has a fifty-two week low of $54.55 and a fifty-two week high of $83.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 0.58. The stock’s 50-day simple moving average is $77.62 and its two-hundred day simple moving average is $78.40.

TJX Companies (NYSE:TJX – Get Rating) last released its quarterly earnings data on Wednesday, May 17th. The apparel and home fashions retailer reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. TJX Companies had a return on equity of 62.78% and a net margin of 7.56%. The firm had revenue of $11.78 billion during the quarter, compared to analysts’ expectations of $11.82 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that TJX Companies will post 3.55 EPS for the current year.

TJX Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be issued a $0.3325 dividend. This is an increase from TJX Companies’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, May 10th. TJX Companies’s payout ratio is presently 40.92%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TJX shares. Morgan Stanley upped their price objective on TJX Companies from $90.00 to $93.00 in a report on Thursday, May 18th. Barclays upped their price objective on TJX Companies from $93.00 to $95.00 and gave the stock an overweight rating in a report on Thursday, May 18th. Deutsche Bank Aktiengesellschaft upped their price objective on TJX Companies from $85.00 to $86.00 in a report on Thursday, May 18th. Telsey Advisory Group reiterated an outperform rating and set a $95.00 target price on shares of TJX Companies in a research report on Thursday, February 23rd. Finally, Credit Suisse Group upped their target price on shares of TJX Companies from $85.00 to $89.00 and gave the company an outperform rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $86.40.

Insider Transactions at TJX Companies

In other news, EVP Scott Goldenberg sold 26,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $78.91, for a total transaction of $2,073,044.61. Following the transaction, the executive vice president now directly owns 72,580 shares of the company’s stock, valued at $5,727,287.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of TJX Companies

A number of hedge funds have recently added to or reduced their stakes in TJX. PGIM Custom Harvest LLC lifted its holdings in shares of TJX Companies by 4.9% during the first quarter. PGIM Custom Harvest LLC now owns 3,041 shares of the apparel and home fashions retailer’s stock worth $238,000 after purchasing an additional 142 shares during the period. Seaport Global Advisors LLC lifted its holdings in shares of TJX Companies by 6.5% during the fourth quarter. Seaport Global Advisors LLC now owns 2,329 shares of the apparel and home fashions retailer’s stock worth $185,000 after purchasing an additional 143 shares during the period. First Capital Advisors Group LLC. lifted its holdings in shares of TJX Companies by 3.9% during the first quarter. First Capital Advisors Group LLC. now owns 4,974 shares of the apparel and home fashions retailer’s stock worth $390,000 after purchasing an additional 185 shares during the period. Donaldson Capital Management LLC lifted its holdings in shares of TJX Companies by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 3,882 shares of the apparel and home fashions retailer’s stock worth $235,000 after purchasing an additional 195 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in shares of TJX Companies by 1.3% during the first quarter. Centaurus Financial Inc. now owns 16,070 shares of the apparel and home fashions retailer’s stock worth $974,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

TJX Companies Company Profile

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The TJX Cos., Inc engages in the retail of apparel and home fashion products. It operates through the following business segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The Marmaxx segment sells family apparel including apparel, home fashions, and other merchandise. The HomeGoods segment offers an assortment of home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop and cookware as well as expanded pet, kids, and gourmet food departments.