Dollar Tree Inc DLTR reported mixed first-quarter financial results and issued guidance.
Dollar Tree reported first-quarter FY23 sales growth of 6% year-on-year to $7.32 billion, beating the consensus of $7.28 billion. Adjusted EPS of $1.47 missed the consensus of $1.52.
For FY23, Dollar Tree revised its sales guidance from $29.9 billion-$30.5 billion to $30 billion – $30.5 billion against the consensus of $30.37 billion. The company lowered its FY23 EPS outlook from $6.30 – $6.80 to $5.73 – $6.13.
Dollar Tree shares dropped 12% to close at $136.66 on Thursday.
- Telsey Advisory Group cut the price target on Dollar Tree from $165 to $162. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
- Barclays slashed the price target on Dollar Tree from $145 to $138. Barclays analyst Seth Sigman maintained an Equal-Weight rating.
- Citigroup lowered Dollar Tree price target from $180 to $167. Citigroup analyst Paul Lejuez maintained a Buy rating.
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