Analysts forecast that Target Co. (NYSE:TGT) will report $18.47 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Target’s earnings. The highest sales estimate is $18.51 billion and the lowest is $18.43 billion. Target reported sales of $17.82 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The company is expected to issue its next quarterly earnings results on Tuesday, November 19th.

According to Zacks, analysts expect that Target will report full-year sales of $78.34 billion for the current fiscal year, with estimates ranging from $78.15 billion to $78.54 billion. For the next year, analysts expect that the business will report sales of $80.91 billion, with estimates ranging from $80.42 billion to $81.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Target.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Target had a return on equity of 27.43% and a net margin of 4.10%. The firm had revenue of $18.42 billion for the quarter, compared to analysts’ expectations of $18.32 billion. During the same period in the previous year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis.

A number of research firms recently commented on TGT. Goldman Sachs Group began coverage on Target in a report on Thursday, July 11th. They issued a “buy” rating and a $102.00 price target on the stock. Deutsche Bank raised Target from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $99.00 in a report on Monday, August 5th. Citigroup raised Target from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $130.00 in a report on Thursday, August 22nd. Cowen set a $120.00 price target on Target and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Bank of America boosted their price target on Target from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $102.37.

In other Target news, insider Michael Edward Mcnamara sold 20,386 shares of Target stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $108.25, for a total value of $2,206,784.50. Following the sale, the insider now owns 64,517 shares of the company’s stock, valued at approximately $6,983,965.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Laysha Ward sold 20,000 shares of Target stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $110.23, for a total value of $2,204,600.00. Following the completion of the sale, the insider now directly owns 88,171 shares in the company, valued at approximately $9,719,089.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,369 shares of company stock worth $9,751,164. Corporate insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. First Citizens Bank & Trust Co. lifted its holdings in shares of Target by 0.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 38,132 shares of the retailer’s stock worth $3,302,000 after buying an additional 115 shares during the period. Weiss Asset Management LP lifted its holdings in shares of Target by 4.6% in the 2nd quarter. Weiss Asset Management LP now owns 2,788 shares of the retailer’s stock worth $241,000 after buying an additional 123 shares during the period. Smith Shellnut Wilson LLC ADV lifted its holdings in shares of Target by 2.8% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 4,522 shares of the retailer’s stock worth $392,000 after buying an additional 125 shares during the period. Copperwynd Financial LLC lifted its holdings in shares of Target by 2.0% in the 2nd quarter. Copperwynd Financial LLC now owns 6,563 shares of the retailer’s stock worth $568,000 after buying an additional 126 shares during the period. Finally, Motco lifted its holdings in shares of Target by 24.0% in the 2nd quarter. Motco now owns 688 shares of the retailer’s stock worth $60,000 after buying an additional 133 shares during the period. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TGT traded up $0.32 during trading hours on Tuesday, reaching $107.28. The company’s stock had a trading volume of 4,325,759 shares, compared to its average volume of 7,377,678. The firm’s 50-day moving average price is $95.79 and its 200-day moving average price is $84.95. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. Target has a 1 year low of $60.15 and a 1 year high of $110.94. The company has a market capitalization of $55.18 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.49 and a beta of 0.52.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Earnings History and Estimates for Target (NYSE:TGT)

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