Dollar Tree (DLTR): Shares cycle in bullish 'flag' pattern

Filed under: Earnings reports, Analyst upgrades and downgrades, Family Dollar Stores (FDO), Technical Analysis, Stocks to Buy

Dollar Tree (NASDAQ: DLTR) runs a network of about 3,500 discount variety stores in 48 states, operating under Dollar Tree, Deal$ and Dollar Bills banners. The stores offer housewares, toys, seasonal items, food, health and beauty aids, gifts and books. All items are priced at one dollar, or less. The outlets are generally located in high-traffic strip centers, anchored by mass merchandisers and supermarkets. Family Dollar Stores (NYSE: FDO) is a major competitor.

The firm pleased investors last week, when it reported Q1 EPS of 48 cents. That was six cents above the average Street estimate. Revenues of $1.05 billion were in-line with the company preannouncement. Management also guided Q2 EPS to 33-36 cents (36 cent consensus), Q2 revenues to $1.045-$1.075 billion ($1.04B consensus), FY09 EPS to $2.23-$2.39 ($2.33 consensus) and FY09 revenues to $4.52-$4.63 billion ($4.58B consensus). Wedbush Morgan and Friedman Billings subsequently reiterated "buy" ratings on the shares.

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