$1.05 Earnings Per Share Expected for Target Co. (TGT) This Quarter
Equities research analysts predict that Target Co. (NYSE:TGT) will announce earnings of $1.05 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Target’s earnings. The lowest EPS estimate is $1.01 and the highest is $1.10. Target reported earnings per share of $1.23 in the same quarter last year, which suggests a negative year-over-year growth rate of 14.6%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, August 16th.
On average, analysts expect that Target will report full year earnings of $4.16 per share for the current year, with EPS estimates ranging from $3.95 to $4.35. For the next financial year, analysts anticipate that the firm will post earnings of $4.14 per share, with EPS estimates ranging from $3.90 to $4.29. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Target.
Target (NYSE:TGT) last posted its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. Target had a return on equity of 24.72% and a net margin of 4.23%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share.
Several research firms recently commented on TGT. TheStreet lowered Target from a “b-” rating to a “c+” rating in a research report on Monday, March 27th. Vetr lowered Target from a “buy” rating to a “hold” rating and set a $59.66 price target for the company. in a research report on Monday, June 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target in a research report on Friday, May 19th. Citigroup Inc. lowered Target from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Finally, Telsey Advisory Group lifted their price target on Target from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Thursday, May 18th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $63.76.
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Target (NYSE:TGT) traded up 1.42% during trading on Friday, reaching $51.48. The company’s stock had a trading volume of 5,804,977 shares. The company has a market cap of $28.40 billion, a PE ratio of 10.55 and a beta of 0.58. The stock has a 50-day moving average price of $55.56 and a 200 day moving average price of $61.25. Target has a 52-week low of $48.56 and a 52-week high of $79.33.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a $0.62 dividend. This is an increase from Target’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.82%. Target’s payout ratio is 48.98%.
Institutional investors have recently modified their holdings of the company. Stockman Wealth Management Inc. increased its position in shares of Target by 3.9% in the fourth quarter. Stockman Wealth Management Inc. now owns 49,981 shares of the retailer’s stock worth $3,610,000 after buying an additional 1,858 shares during the period. Prudential PLC increased its position in shares of Target by 29.5% in the fourth quarter. Prudential PLC now owns 144,388 shares of the retailer’s stock worth $10,429,000 after buying an additional 32,882 shares during the period. Abbrea Capital LLC acquired a new position in shares of Target during the fourth quarter worth approximately $391,000. State Street Corp increased its position in shares of Target by 0.3% in the fourth quarter. State Street Corp now owns 51,198,488 shares of the retailer’s stock worth $3,698,062,000 after buying an additional 145,625 shares during the period. Finally, Cleararc Capital Inc. increased its position in shares of Target by 4.3% in the fourth quarter. Cleararc Capital Inc. now owns 26,456 shares of the retailer’s stock worth $1,911,000 after buying an additional 1,083 shares during the period. 83.00% of the stock is owned by institutional investors.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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