The TJX Companies Trading Up 8.5% After Better-Than-Expected Earnings (TJX)
The TJX Companies (NYSE:TJX) shares were up 8.5% on Tuesday following a stronger than expected earnings report, StockRatingsNetwork.com reports. The company traded as high as $58.70 and last traded at $58.49, with a volume of 7,279,302 shares traded. The stock had previously closed at $53.90.
The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Northcoast Research upgraded shares of The TJX Companies from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 23rd. They now have a $62.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Sterne Agee cut their price target on shares of The TJX Companies from $65.00 to $56.00 in a research note on Wednesday, July 16th. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The TJX Companies in a research note on Friday, May 23rd. They now have a $63.00 price target on the stock, down previously from $65.00. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $62.41.
The stock has a 50-day moving average of $53.41 and a 200-day moving average of $57.11. The company has a market cap of $41.115 billion and a P/E ratio of 18.19.
The TJX Companies, Inc (NYSE:TJX) is the off-price apparel and home fashions retailer in the United States and worldwide.
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