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TJX Companies Q1 Profit falls, Missing View (TJX)

Discount apparel and home goods retailer The TJX Companies, Inc. ( TJX ) on Tuesday reported lower-than-expected first quarter earnings, sending its shares lower in premarket trading.

The Framingham, MA-based company reported first quarter net income of $266 million, or 67 cents per share, down from $331 million, or 80 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 78 cents per share.

Revenue rose 4% from last year to $5.22 billion.

On average, Wall Street analysts expected a higher profit of 80 cents per share for the latest quarter, albeit on lower revenue of $5.18 billion.

Looking ahead, the company forecast adjusted second quarter earnings to range from 81 to 86 cents per share, while analysts expect 84 cents.

For the full fiscal year 2012, TJX predicted earnings of $3.70 to $3.82 per share, or $3.81 to $3.93 on an adjusted basis. Analysts expect $3.88 per share for the year.

TJX shares fell $1.37, or -2.5%, in premarket trading Tuesday.

The Bottom Line

Shares of TJX Companies ( TJX ) have a 1.40% dividend yield, based on last night's closing stock price of $54.31. The stock has technical support in the $49-$51 price area. The shares are trading at all-time highs and have little overhead resistance.

The TJX Companies, Inc. ( TJX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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