Why TJX Stock Is Surging Today

TJX (NYSE:TJX) stock was on the rise Tuesday following the release of its earnings report for its fiscal second quarter of 2019.

Why TJX Stock Is Surging Today

During its fiscal second quarter of 2019, TJX reported earnings per share of $1.17. This is up from the company’s earnings per share of 85 cents reported in its fiscal second quarter of 2018. It was also good news for the company’s stock by coming in above Wall Street’s earnings per share estimate of $1.05 cents for the period.

The company also reported net income of $739.63 million during its fiscal second quarter of 2019. The department store chain’s net income from the same period of the year prior was $552.96 million.

TJX’s earnings report for its fiscal second quarter of the year also includes revenue of $9.33 billion. The is better than the $8.36 billion that was reported in its fiscal second quarter of the previous year. It was also a boon to TJX stock by beating out analysts’ revenue estimate of $9.00 billion for the quarter.

TJX also took time during its most recent earnings report to update its guidance for fiscal 2019. It is now expecting earnings per share for the year to range from $4.83 to $4.88. The company notes that 73 cents to 74 cents of this is a benefit from the 2017 Tax Cuts and Jobs Act. Wall Street is looking for the company to report earnings per share of $4.86 for its current fiscal year.

TJX stock was up 4% as of Tuesday morning and is up 32% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/why-tjx-stock-is-surging-today/.

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