Dollar Tree Lifts Outlook, Shares Jump – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/24086/Dollar+Tree+Lifts+Outlook%2C+Shares+Jump+-+Zacks+Tale+of+the+TapePosted on Wednesday, August 26th, 2009 | In Market Commentary, Stocks to Watch
Shares of Dollar Tree Inc. (DLTR) have jumped more than 5% so far today after the company raised its outlook.
The discount store operator now expects earnings between $3.10 and $3.25 per share for the fiscal year ending Jan 2010, compared to the earlier prediction of $2.75 to $2.90.
The Zacks Consensus Estimate for the year is at $3.02 per share, which has moved up 5 cents over the past month as 10 of 12 covering analysts raised expectations.
Meanwhile, the company reported fiscal second-quarter earnings of 63 cents per share, topping the Zacks Consensus Estimate by nearly 17%.
Sales grew 12% to $1.22 billion as customers preferred to shop more in its discount stores. Same-store sales recorded a growth of 6.8%.
DLTR, a Zacks #2 Rank (”Buy”) stock, is trading on heavier-than-usual volume of about 3.6 million, against the average daily volume of approximately 1.1 million.
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