Dollar Tree profit falls 13.8 pct on impairment charge

Cornelia Mascio
Mag 25, 2017

Dollar Tree, Inc. shares fell $2.08 (-2.66%) in premarket trading Thursday. South State Corp's holdings in Dollar Tree were worth $711,000 as of its most recent SEC filing. Norges Bank acquired a new position in shares of Dollar Tree during the fourth quarter worth about $127,808,000.

South State Corp boosted its stake in shares of Dollar Tree, Inc. Jennison Associates LLC now owns 2,792,319 shares of the company's stock worth $220,398,000 after buying an additional 223,781 shares in the last quarter. FMR LLC increased its position in shares of Dollar Tree by 9.3% in the fourth quarter. Montag & Caldwell LLC increased its position in shares of Dollar Tree by 22.8% in the third quarter. The stock touched 52-week High of $99.93 on 08/11/16 and 52-week Low of $72.55 on 11/09/16.

Dollar Tree (NASDAQ:DLTR) opened at 78.08 on Thursday. The stock's 50 day moving average is $79.82 and its 200 day moving average is $79.39.

Dollar Tree, Inc. (DLTR) now has P/E (Price to Earnings) ratio of 20.83 while the company's industry has 24.91 P/E and the sector P/E is 21.49. Dollar Tree also was the target of unusually large options trading activity on Wednesday. Traders purchased 8,347 put options on the company. This is an increase of approximately 366% compared to the typical volume of 1,791 put options. The company's quarterly revenue was up 4.0% compared to the same quarter a year ago.

On a per-share basis, the Chesapeake, Virginia-based company said it had net income of 85 cents. Analysts' estimates typically exclude special items. Dollar Tree had a net margin of 3.93% and a return on equity of 17.15%. Dollar Tree's quarterly revenue was up 4.0% compared to the same quarter previous year.

The company expects full-year earnings to be $4.17 to $4.43 per share, with revenue ranging from $21.95 billion to $22.25 billion. Dollar Tree updated its Q2 guidance to $0.80-0.88 EPS and its FY18 guidance to $4.17-4.43 EPS.

Shares of Dollar Tree, Inc. "(DLTR)" was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & global copyright laws.

A number of analysts have recently issued reports on the company. Deutsche Bank AG reissued a "buy" rating and set a $96.00 price objective (up previously from $95.00) on shares of Dollar Tree in a research note on Thursday. BTIG Research reiterated a buy rating and set a $98.00 target price on shares of Dollar Tree in a report on Monday. Atlantic Securities raised Dollar Tree from an "underweight" rating to a "neutral" rating in a research report on Tuesday, April 4th. They set a buy rating and a $98.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company's stock. Nordea Investment Management AB now owns 214,766 shares of the company's stock worth $16,951,000 after buying an additional 14,520 shares in the last quarter. The company has an average rating of "Hold" and an average target price of $86.62.

In other Dollar Tree news, insider Robert H. Rudman sold 2,559 shares of the business's stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $78.22, for a total value of $526,498.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The shares were sold at an average price of $79.00, for a total value of $3,162,291.00. Following the completion of the sale, the chief executive officer now directly owns 61,721 shares of the company's stock, valued at approximately $4,938,914.42. The disclosure for this sale can be found here. Insiders sold 62,040 shares of company stock valued at $4,868,165 over the last quarter.

Beta is also an important valuation ratio for analyzing the stock of the company, DLTR has Beta of 0.67 while its industry and Sector's beta remains at 0.84 and 1.33 respectively.

"The Dollar Tree banner continues to generate results that are strong, consistent and growing and we are enthusiastic about the opportunity to improve the Family Dollar business as we launch our renovation initiatives in the second quarter".

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