Dollar Tree (NASDAQ:DLTR) Updates 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.

Analyst Ratings Changes

Several analysts have recently commented on DLTR shares. JPMorgan Chase & Co. downgraded shares of Dollar Tree from an overweight rating to a neutral rating and decreased their price objective for the company from $160.00 to $150.00 in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on Dollar Tree from $181.00 to $173.00 and set a buy rating for the company in a research report on Thursday, March 2nd. Barclays started coverage on shares of Dollar Tree in a research note on Tuesday, February 7th. They issued an equal weight rating and a $145.00 target price on the stock. Piper Sandler upped their price target on shares of Dollar Tree from $167.00 to $173.00 and gave the stock an overweight rating in a report on Tuesday, February 28th. Finally, Truist Financial lowered their target price on Dollar Tree from $164.00 to $162.00 in a report on Tuesday, May 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $166.67.

Dollar Tree Stock Down 0.5 %

Shares of NASDAQ DLTR opened at $155.35 on Thursday. The firm has a market cap of $34.36 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.21 and a beta of 0.66. The business’s 50 day moving average is $150.01 and its two-hundred day moving average is $148.68. Dollar Tree has a 52-week low of $129.22 and a 52-week high of $175.68. The company has a quick ratio of 0.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.39.

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

Insider Activity at Dollar Tree

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

Institutional Investors Weigh In On Dollar Tree

A number of institutional investors and hedge funds have recently bought and sold shares of DLTR. Ameriprise Financial Inc. grew its stake in Dollar Tree by 1.2% in the 1st 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. raised its holdings in Dollar Tree by 34.5% in the first quarter. JPMorgan Chase & Co. now owns 437,578 shares of the company’s stock valued at $62,814,000 after buying an additional 112,315 shares during the period. Centaurus Financial Inc. increased its holdings in 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 in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Dollar Tree by 14,255.1% during the 1st quarter. Providence Capital Advisors LLC now owns 28,423 shares of the company’s stock valued at $198,000 after buying an additional 28,225 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Dollar Tree by 43.3% during the first quarter. Thrivent Financial for Lutherans now owns 48,442 shares of the company’s stock worth $6,954,000 after purchasing an additional 14,647 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Dollar Tree Company Profile

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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.