Analysts Expect Target Co. (TGT) to Post $1.10 Earnings Per Share
Wall Street brokerages predict that Target Co. (NYSE:TGT) will report earnings per share (EPS) of $1.10 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Target’s earnings, with the lowest EPS estimate coming in at $1.08 and the highest estimate coming in at $1.13. Target reported earnings per share of $0.91 during the same quarter last year, which indicates a positive year over year growth rate of 20.9%. The business is expected to issue its next earnings results on Wednesday, November 21st.
According to Zacks, analysts expect that Target will report full year earnings of $5.37 per share for the current financial year, with EPS estimates ranging from $5.25 to $5.47. For the next financial year, analysts expect that the company will report earnings of $5.62 per share, with EPS estimates ranging from $5.50 to $5.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Target.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The company had revenue of $17.78 billion during the quarter, compared to analyst estimates of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. Target’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS.
Shares of Target stock traded down $0.07 during trading on Monday, hitting $87.24. The company’s stock had a trading volume of 3,471,000 shares, compared to its average volume of 5,450,438. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. The firm has a market cap of $45.96 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 2.42 and a beta of 0.69. Target has a 52 week low of $54.04 and a 52 week high of $90.39.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 2.93%. Target’s dividend payout ratio is currently 54.35%.
A number of large investors have recently added to or reduced their stakes in TGT. Trust Co. of Vermont boosted its holdings in shares of Target by 3.5% during the 2nd quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock valued at $1,464,000 after acquiring an additional 647 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of Target by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock valued at $1,184,000 after acquiring an additional 671 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Target by 3.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 19,523 shares of the retailer’s stock valued at $1,486,000 after acquiring an additional 681 shares during the last quarter. Uncommon Cents Investing LLC boosted its holdings in shares of Target by 2.2% during the 2nd quarter. Uncommon Cents Investing LLC now owns 31,623 shares of the retailer’s stock valued at $2,407,000 after acquiring an additional 685 shares during the last quarter. Finally, Cahill Financial Advisors Inc. boosted its holdings in shares of Target by 18.6% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 4,431 shares of the retailer’s stock valued at $338,000 after acquiring an additional 694 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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