In the latest trading session, TJX (TJX) closed at $79.86, marking a +1.08% move from the previous day. This move outpaced the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 10.36%.
Prior to today's trading, shares of the parent of T.J. Maxx, Marshalls and other stores had lost 0.44% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 6.09% and the S&P 500's loss of 5.98% in that time.
TJX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.89, up 14.1% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.03 billion, up 1.28% from the prior-year quarter.
TJX's full-year Zacks Consensus Estimates are calling for earnings of $3.12 per share and revenue of $49.45 billion. These results would represent year-over-year changes of +9.47% and +1.85%, respectively.
It is also important to note the recent changes to analyst estimates for TJX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TJX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note TJX's current valuation metrics, including its Forward P/E ratio of 25.34. For comparison, its industry has an average Forward P/E of 26.94, which means TJX is trading at a discount to the group.
We can also see that TJX currently has a PEG ratio of 2.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TJX's industry had an average PEG ratio of 2.49 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.