NEW YORK (TheStreet) -- TJX Cos. (TJX) - Get Report stock is up by 2.09% to $74.21 in mid-morning trading on Wednesday, after the retailer reported better-than-expected fiscal 2016 fourth quarter results.
Before the market open on Wednesday, the Framingham, MA-based company reported that earnings rose by 6% year-over-year to 99 cents per share, higher than analysts' forecasts for 94 cents per share. Revenue of $9 billion topped Wall Street's projections for revenue of $8.73 billion.
Comparable sales rose by 6% during the quarter, which was driven by higher customer traffic in every division, TJX said in a statement.
Additionally, the company announced that it plans to raise its quarterly dividend by 24% to 26 cents per share. The dividend would be payable in June.
Separately, TJX has a "buy" rating and a letter grade of A at TheStreet Ratings because of the company's solid stock price performance, revenue growth, notable return on equity, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures.
You can view the full analysis from the report here: TJX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.