Dollar Tree, Inc. (DLTR) Releases Earnings Results, Hits Expectations
Dollar Tree, Inc. (NASDAQ:DLTR) issued its quarterly earnings data on Thursday. The company reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. Dollar Tree had a return on equity of 17.15% and a net margin of 3.93%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Dollar Tree updated its Q2 guidance to $0.80-0.88 EPS and its FY18 guidance to $4.17-4.43 EPS.
Dollar Tree (NASDAQ:DLTR) opened at 78.08 on Thursday. The stock’s 50 day moving average is $79.82 and its 200 day moving average is $79.39. The firm has a market capitalization of $18.45 billion, a P/E ratio of 20.66 and a beta of 0.62. Dollar Tree has a one year low of $72.55 and a one year high of $99.93. Dollar Tree also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 8,347 put options on the stock. This represents an increase of approximately 366% compared to the typical daily volume of 1,791 put options.
DLTR has been the subject of a number of research analyst reports. Royal Bank of Canada set a $95.00 price objective on Dollar Tree and gave the stock a “buy” rating in a report on Monday, April 3rd. Buckingham Research restated a “buy” rating and set a $101.00 price objective on shares of Dollar Tree in a report on Monday, February 27th. Deutsche Bank AG restated a “buy” rating and set a $96.00 price objective on shares of Dollar Tree in a report on Wednesday, February 22nd. Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a report on Monday, April 24th. Finally, Gordon Haskett initiated coverage on Dollar Tree in a report on Tuesday, May 9th. They set a “buy” rating and a $98.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Dollar Tree has a consensus rating of “Hold” and an average target price of $86.62.
In other news, insider Robert H. Rudman sold 2,559 shares of the firm’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $78.34, for a total transaction of $200,472.06. Following the sale, the insider now owns 4,893 shares in the company, valued at approximately $383,317.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bob Sasser sold 40,029 shares of the firm’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $79.00, for a total transaction of $3,162,291.00. Following the sale, the chief executive officer now owns 65,070 shares in the company, valued at approximately $5,140,530. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,040 shares of company stock worth $4,868,165. Corporate insiders own 4.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Meristem LLP boosted its stake in Dollar Tree by 0.3% in the first quarter. Meristem LLP now owns 4,520 shares of the company’s stock valued at $355,000 after buying an additional 14 shares during the period. IFC Holdings Incorporated FL boosted its position in shares of Dollar Tree by 0.3% in the first quarter. IFC Holdings Incorporated FL now owns 4,797 shares of the company’s stock worth $377,000 after buying an additional 15 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Dollar Tree by 0.5% in the first quarter. Wetherby Asset Management Inc. now owns 6,621 shares of the company’s stock worth $519,000 after buying an additional 35 shares during the last quarter. Huntington National Bank boosted its position in shares of Dollar Tree by 0.6% in the third quarter. Huntington National Bank now owns 8,192 shares of the company’s stock worth $647,000 after buying an additional 45 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Dollar Tree by 3.1% in the first quarter. Citizens Financial Group Inc. RI now owns 1,584 shares of the company’s stock worth $125,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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