Becton, Dickinson and Company
Companies highlighted in this weekly wrap include Becton, Dickinson and Company (BDX - Analyst Report), Ross Stores, Inc. (ROST - Snapshot Report), Casey's General Stores Inc. (CASY - Snapshot Report), The TJX Companies, Inc. (TJX - Snapshot Report) and Tupperware Brands Corporation (TUP - Snapshot Report)
Management Comments on strong Performance and Reaffirms Guidance
"In the face of global economic pressures, we are pleased to have achieved top-line growth in all three segments after adjusting for the negative impact of foreign currency translation. This growth, along with our continued focus on disciplined expense and currency risk management, has enabled us to deliver adjusted earnings in line with our expectations," stated Edward J. Ludwig, Chairman and Chief Executive Officer. "Our strong performance for the first half of fiscal 2009, combined with our commitment to continue to drive efficiency throughout BD, gives us the confidence to reaffirm our guidance for full-year adjusted earnings."
Becton, Dickinson and Company sees fiscal 2009 earnings of $4.86 to $4.95 per share, a 9% to 11% increase from the year-prior.
Wall Street Hiked Estimates in Response
Analysts responded to BDX’s bullish guidance by boosting current fiscal year forecasts from $4.92 per share to $4.94 in just the past week, representing 11% annual growth. For the following year, analysts are projecting earnings growth of 10%.
Read our April 23, 2009 commentary.
Last Week's Growth and Income Zacks Rank Buy Stocks
Ross Stores, Inc. (ROST - Snapshot Report) recently posted April sales of $534 million, an increase of 11% year-over-year. Comparable store sales climbed 6% over the same time period. Read the full analysis on ROST.
Casey's General Stores Inc. (CASY - Snapshot Report) outperformed the broader market over the past year, receiving an extra boost in early March on a strong third quarter. The company’s solid fundamentals include an industry-leading dividend yield of 1.2%. Read the full analysis on CASY.
The TJX Companies, Inc. (TJX - Snapshot Report) posted April sales of $1.43 billion, up 1% on a year-over-year basis. Consolidated comparable store sales increased by 3%. The company upped its earnings guidance on strong sales, calling for a first-quarter earnings range of 47 to 49 cents per share. Analysts responded by boosting the average earnings projection from 39 cents to 49 cents in just 1 week. Read the full analysis on TJX.
Tupperware Brands Corporation (TUP - Snapshot Report) has been surging lately as shares more than doubled off recent multi-year lows. Analysts are optimistic on earnings, lifting year 2009 estimates by 2 cents to $2.21 per share in just the past week. Read the full analysis on TUP.