Why TJX (TJX) Outpaced the Stock Market Today
In the latest close session, TJX (TJX) was up +1.02% at $123.38. The stock's performance was ahead of the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 0.52%.
Shares of the parent of T.J. Maxx, Marshalls and other stores have depreciated by 3.88% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 2.37%, and the S&P 500's gain of 5.95%.
Analysts and investors alike will be keeping a close eye on the performance of TJX in its upcoming earnings disclosure. In that report, analysts expect TJX to post earnings of $1 per share. This would mark year-over-year growth of 4.17%. Meanwhile, our latest consensus estimate is calling for revenue of $14.08 billion, up 4.55% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.46 per share and revenue of $58.81 billion, indicating changes of +4.69% and +4.35%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for TJX. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, TJX boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, TJX is currently exchanging hands at a Forward P/E ratio of 27.37. This indicates a premium in contrast to its industry's Forward P/E of 20.99.
Meanwhile, TJX's PEG ratio is currently 2.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TJX's industry had an average PEG ratio of 2.81 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 36% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The TJX Companies, Inc. (TJX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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