Discount apparel and home goods retailer The TJX Companies, Inc.
) on Tuesday posted better-than-expected third quarter earnings
results, although its outlook for the remainder of the year was a
bit more reserved.
The Framingham, MA-based company reported third quarter net
income of $462 million, or 62 cents per share, compared with $406
million, or 53 cents per share, in the year-ago period.
Revenue rose 11% from last year to $6.41 billion.
On average, Wall Street analysts expected a smaller profit of 61
cents per share, on smaller revenue of $6.39 billion.
For the fourth quarter, TJX forecast adjusted earnings of 72-75
cents per share, which would miss analysts' view of 76 cents. For
the full fiscal year, the company anticipates earnings of $2.45 to
$2.48, which would is slightly below Wall Street expectations for
$2.49 per share.
The TJX Companies shares posted small gains in premarket trading
The Bottom Line
Shares of The TJX Companies (
) have a 1.12% dividend yield, based on last night's closing stock
price of $40.97. The stock has technical support in the $37-$38
price area. If the shares can firm up, we see overhead resistance
around the $43-$44 price levels.
The TJX Companies, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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