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The TJX Companies, Inc. (NYSE:TJX) , a leading off-price retailer, recently came out with its fourth-quarter fiscal 2018 results, with adjusted earnings of $1.19, which excludes an $0.11 benefit from the 53rd week in the company’s fiscal year, and was above the high end of the company’s guidance for adjusted EPS of $1.16.
The Zacks Consensus Estimate of $1.28 does not consider this 53rd week. Adjusted earnings depicted an increase of 15.5% from the prior-year quarter. Adjusted earnings for fiscal 2018 increased 9.1% from the prior-year to reach $3.85.
For the first-quarter and for fiscal 2019 the company expects adjusted earnings in the range of 85–87 cents and $4.00–$4.08 respectively.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has increased by a cent in the last 30 days. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 2%.
TJX Companies, Inc. (The) Price, Consensus and EPS Surprise
Revenues: TJX Companies generated total sales of $10,961 million that increased 15.8% year over year and came ahead of the Zacks Consensus Estimate of $10,789 million. For fiscal 2018 revenues came in at $35.9 billion, depicting an 8% growth from the prior year figure.
Key Events: Management intends to increase quarterly dividend rates by 25% to 39 cents per share. Further the company has also announced a share repurchase program worth $2.5 to $3.0 billion to be carried out during fiscal 2019.
Zacks Rank: Currently, TJX Companies carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
(NOTE: We are re-issuing this article to correct an error. The original version, published earlier today, February 28, 2018, should no longer be relied upon.)
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