Zacks: Brokerages Expect Dollar Tree, Inc. (DLTR) Will Announce Quarterly Sales of $5.27 Billion
Wall Street brokerages expect Dollar Tree, Inc. (NASDAQ:DLTR) to report sales of $5.27 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Dollar Tree’s earnings, with estimates ranging from $5.25 billion to $5.30 billion. Dollar Tree posted sales of $5.00 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 28th.
On average, analysts expect that Dollar Tree will report full-year sales of $5.27 billion for the current year, with estimates ranging from $22.17 billion to $22.25 billion. For the next financial year, analysts expect that the company will post sales of $22.96 billion per share, with estimates ranging from $22.75 billion to $23.22 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Dollar Tree.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 24th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share.
Several research analysts have recently weighed in on the stock. BTIG Research reissued a “buy” rating and issued a $98.00 target price on shares of Dollar Tree in a research note on Wednesday, August 23rd. Loop Capital reissued a “buy” rating and issued a $86.00 target price on shares of Dollar Tree in a research note on Wednesday, August 9th. Sanford C. Bernstein raised Dollar Tree from an “underperform” rating to a “market perform” rating and increased their target price for the company from $65.00 to $78.00 in a research note on Monday, August 28th. They noted that the move was a valuation call. Buckingham Research reissued a “buy” rating and issued a $87.00 target price on shares of Dollar Tree in a research note on Wednesday, August 9th. Finally, BidaskClub raised Dollar Tree from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Dollar Tree presently has an average rating of “Buy” and an average price target of $90.14.
Shares of Dollar Tree (NASDAQ DLTR) opened at 92.37 on Monday. The firm has a 50 day moving average price of $86.52 and a 200-day moving average price of $78.17. The firm has a market cap of $21.88 billion, a P/E ratio of 23.63 and a beta of 0.70. Dollar Tree has a one year low of $65.63 and a one year high of $92.55.
In related news, insider Gary M. Philbin sold 2,795 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $84.50, for a total transaction of $236,177.50. Following the completion of the sale, the insider now owns 34,532 shares of the company’s stock, valued at $2,917,954. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Macon F. Brock, Jr. sold 63,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $91.04, for a total transaction of $5,735,520.00. The disclosure for this sale can be found here. Insiders have sold 101,449 shares of company stock valued at $9,139,337 in the last ninety days. Insiders own 4.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of DLTR. Waldron LP purchased a new stake in Dollar Tree in the first quarter worth approximately $203,000. OppenheimerFunds Inc. boosted its holdings in Dollar Tree by 23.8% in the first quarter. OppenheimerFunds Inc. now owns 33,320 shares of the company’s stock worth $2,614,000 after purchasing an additional 6,405 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Dollar Tree by 29.6% in the first quarter. Global X Management Co. LLC now owns 2,157 shares of the company’s stock worth $169,000 after purchasing an additional 493 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Dollar Tree by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 837,015 shares of the company’s stock worth $65,677,000 after purchasing an additional 78,642 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Dollar Tree by 23.0% in the first quarter. Renaissance Technologies LLC now owns 833,803 shares of the company’s stock worth $65,420,000 after purchasing an additional 155,700 shares during the last quarter. Institutional investors own 90.73% of the company’s stock.
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Dollar Tree Company Profile
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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