TJX (TJX) Dips More Than Broader Market: What You Should Know
In the latest market close, TJX (TJX) reached $97.36, with a -0.69% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow saw a downswing of 0.17%, while the tech-heavy Nasdaq depreciated by 0.92%.
The parent of T.J. Maxx, Marshalls and other stores's stock has climbed by 3.06% in the past month, falling short of the Retail-Wholesale sector's gain of 5.07% and the S&P 500's gain of 3.56%.
Market participants will be closely following the financial results of TJX in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company is expected to report EPS of $1.11, up 24.72% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.19 billion, up 11.47% from the year-ago period.
Any recent changes to analyst estimates for TJX should also be noted by investors. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. TJX is currently a Zacks Rank #3 (Hold).
From a valuation perspective, TJX is currently exchanging hands at a Forward P/E ratio of 23.9. This valuation marks a premium compared to its industry's average Forward P/E of 22.16.
Investors should also note that TJX has a PEG ratio of 2.12 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Discount Stores industry had an average PEG ratio of 2.12 as trading concluded yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The TJX Companies, Inc. (TJX) : Free Stock Analysis Report
