Dollar Tree (NASDAQ:DLTR) Issues FY24 Earnings Guidance

Dollar Tree (NASDAQ:DLTR – Get Rating) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.73-6.13 for the period, compared to the consensus EPS estimate of $6.63. The company issued revenue guidance of $30.0-30.5 billion, compared to the consensus revenue estimate of $30.31 billion. Dollar Tree also updated its Q2 guidance to $0.79-0.89 EPS.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Telsey Advisory Group restated an outperform rating and set a $165.00 price target on shares of Dollar Tree in a report on Thursday, March 2nd. StockNews.com began coverage on shares of Dollar Tree in a report on Thursday, May 18th. They set a hold rating on the stock. Morgan Stanley upped their price target on shares of Dollar Tree from $145.00 to $150.00 and gave the stock an equal weight rating in a research note on Thursday, March 2nd. JPMorgan Chase & Co. cut Dollar Tree from an overweight rating to a neutral rating and reduced their price objective for the company from $160.00 to $150.00 in a research report on Thursday, March 2nd. Finally, Credit Suisse Group restated a neutral rating and issued a $150.00 price objective on shares of Dollar Tree in a report on Thursday, March 2nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $166.67.

Dollar Tree Price Performance

Shares of Dollar Tree stock opened at $155.35 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $150.01 and a 200-day simple moving average of $148.68. The stock has a market capitalization of $34.36 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.21 and a beta of 0.66. Dollar Tree has a 1-year low of $129.22 and a 1-year high of $175.68.

Dollar Tree (NASDAQ:DLTR – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. Dollar Tree had a net margin of 5.70% and a return on equity of 19.19%. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.61 billion. During the same quarter last year, the firm posted $2.01 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that Dollar Tree will post 6.59 earnings per share for the current year.

Insider Buying and Selling

In other Dollar Tree news, CFO Jeffrey A. Davis bought 1,790 shares of the stock in a transaction on Monday, March 27th. The shares were purchased at an average price of $139.06 per share, with a total value of $248,917.40. Following the acquisition, the chief financial officer now directly owns 15,006 shares of the company’s stock, valued at approximately $2,086,734.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Richard W. Dreiling acquired 7,100 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was acquired at an average price of $142.00 per share, with a total value of $1,008,200.00. Following the completion of the transaction, the chief executive officer now owns 7,118 shares of the company’s stock, valued at $1,010,756. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey A. Davis bought 1,790 shares of Dollar Tree stock in a transaction that occurred on Monday, March 27th. The stock was bought at an average price of $139.06 per share, with a total value of $248,917.40. Following the purchase, the chief financial officer now owns 15,006 shares of the company’s stock, valued at approximately $2,086,734.36. The disclosure for this purchase can be found here. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Dollar Tree

Several large investors have recently added to or reduced their stakes in DLTR. ICA Group Wealth Management LLC acquired a new stake in shares of Dollar Tree during the 4th quarter worth approximately $27,000. VitalStone Financial LLC bought a new position in Dollar Tree in the first quarter worth $34,000. Alpha Paradigm Partners LLC acquired a new stake in Dollar Tree during the third quarter worth $35,000. Fred Alger Management LLC bought a new stake in Dollar Tree in the 3rd quarter valued at $37,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Dollar Tree by 80.5% in the 1st quarter. First Horizon Advisors Inc. now owns 314 shares of the company’s stock valued at $45,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

About Dollar Tree

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Dollar Tree, Inc owns and operates discount variety stores offering merchandise at fixed prices. It operates through the Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and Canada.