Dollar Tree (NASDAQ:DLTR) Releases Q2 Earnings Guidance

Dollar Tree (NASDAQ:DLTR – Get Rating) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.79-0.89 for the period, compared to the consensus EPS estimate of $1.23. The company issued revenue guidance of $7.0-7.2 billion, compared to the consensus revenue estimate of $7.15 billion. Dollar Tree also updated its FY24 guidance to $5.73-6.13 EPS.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $155.35 on Thursday. Dollar Tree has a 12 month low of $129.22 and a 12 month high of $175.68. The stock has a market cap of $34.36 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.66. The company’s fifty day moving average price is $150.01 and its 200-day moving average price is $148.68. The company has a current ratio of 1.51, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Dollar Tree from $164.00 to $162.00 in a report on Tuesday, May 9th. Morgan Stanley boosted their price target on Dollar Tree from $145.00 to $150.00 and gave the company an equal weight rating in a research note on Thursday, March 2nd. Credit Suisse Group restated a neutral rating and issued a $150.00 price objective on shares of Dollar Tree in a research note on Thursday, March 2nd. Telsey Advisory Group reaffirmed an outperform rating and set a $165.00 price target on shares of Dollar Tree in a report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Dollar Tree from $181.00 to $173.00 and set a buy rating on the stock in a research report on Thursday, March 2nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Dollar Tree presently has an average rating of Moderate Buy and an average target price of $166.67.

Insider Buying and Selling

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

Hedge Funds Weigh In On Dollar Tree

A number of institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in Dollar Tree by 1.2% during the first quarter. Ameriprise Financial Inc. now owns 514,458 shares of the company’s stock worth $73,847,000 after acquiring an additional 6,348 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Dollar Tree by 34.5% during the 1st quarter. JPMorgan Chase & Co. now owns 437,578 shares of the company’s stock valued at $62,814,000 after purchasing an additional 112,315 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Dollar Tree by 14.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,101 shares of the company’s stock valued at $158,000 after purchasing an additional 139 shares during the period. Providence Capital Advisors LLC boosted its holdings in Dollar Tree by 14,255.1% during the first quarter. Providence Capital Advisors LLC now owns 28,423 shares of the company’s stock worth $198,000 after buying an additional 28,225 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Dollar Tree by 43.3% during the first quarter. Thrivent Financial for Lutherans now owns 48,442 shares of the company’s stock valued at $6,954,000 after buying an additional 14,647 shares during the period. Hedge funds and other institutional investors 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.