Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
T.J. Maxx parent TJX Companies Inc (NYSE: TJX) reported fourth-quarter earnings before market open Wednesday. The company beat fourth-quarter EPS consensus, claiming $0.99 per share compared to the Street's $0.94. The company also beat on revenue, reporting $9 billion in sales versus an estimated $8.73 billion.
However, the company's guidance for the first quarter of 2016 was firmly below analyst expectations. TJX sees an EPS range of $0.68 to $0.70 for the quarter, while the Street was expecting $0.74 per share.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Marshall's operator offered guidance for the 2017 fiscal year, expecting an earnings range of $3.29 to $3.38, far short of Wall Street's $3.61 estimate.
Despite offering a disheartening outlook, TJX management was confident touting the company's fourth-quarter successes.
"We are convinced that we are gaining market share profitably around the world," said CEO Ernie Herman. "We have sustained profitable growth through many types of economic and retail climates and in different regions around the world, and we have great confidence in the future."
Herman noted that 2015 was the company's 20th straight year of EPS increases. He attributed earnings guidance shortfalls to company wage investments. He expects the company to capture more than $40 billion in market share, but did not offer a timeline for that specific goal.
TJX will increase its share buyback from $1.5 billion in stock to $2 billion, Herman also reported.
Investors were unsure how to react to the news Wednesday morning, but a few were emboldened by the positive fourth-quarter results, pushing the stock up a little over 1 percent before market open.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.