What's Happening with TJX
Off-priced retailer TJX Companies (TJX) reports its second-quarter numbers before the market opens August 20. Analysts forecast earnings of $0.63 for the quarter versus $1.17 during the same period last year and the stock has appreciated 14.8% on the year.
Technical Analysis
TJX was recently trading at $51.37 down $5.78 from its 12-month high and $9.88 above its 12-month low. InvestorsObserver's Stock Score Report gives TJX a 65 long-term technical score and a 37 short-term technical score. The stock has recent support above $50 and recent resistance below $53. Of the 18 analysts who cover the stock 14 rate it Strong Buy, 0 rate it Buy, 4 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, TJX gets a score of 57 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
TJX has remained strong, and with fears mounting of a looming recession the discount retail sector should continue to show strength. TJX is expected to grow profits at an annual rate of 8.7% over the next five years, and with shares currently trading at 18 times future earnings there remains a lot of upside, especially if economic conditions start to deteriorate as some analysts predict as a result of a global slowdown and the inevitable impact of the ongoing trade war with China. TJX posted better earnings and revenue last quarter, and the street expects another earnings beat this quarter with a whisper number of $0.65. Analysts have an average price target of $57.78 on the stock.