Target Corporation Expected to Earn Q1 2019 Earnings of $1.09 Per Share (TGT)
Target Corporation (NYSE:TGT) – Equities researchers at Jefferies Group reduced their Q1 2019 earnings per share (EPS) estimates for shares of Target Corporation in a note issued to investors on Wednesday. Jefferies Group analyst D. Binder now forecasts that the retailer will post earnings of $1.09 per share for the quarter, down from their previous estimate of $1.11. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Target Corporation’s Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $1.25 EPS, FY2020 earnings at $4.28 EPS, FY2021 earnings at $4.34 EPS and FY2022 earnings at $4.52 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.67 price objective for the company in a research report on Monday, August 14th. BMO Capital Markets reaffirmed a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. MKM Partners assumed coverage on shares of Target Corporation in a research report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price target for the company. Finally, BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.91.
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Target Corporation (NYSE:TGT) traded up $3.04 during mid-day trading on Friday, reaching $58.14. 15,956,657 shares of the company’s stock were exchanged, compared to its average volume of 7,362,166. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The company has a market capitalization of $30,100.00, a PE ratio of 12.19, a price-to-earnings-growth ratio of 5.38 and a beta of 0.63.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the prior year, the company posted $1.04 earnings per share. Target Corporation’s revenue for the quarter was up 1.4% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. BlackRock Inc. raised its holdings in Target Corporation by 2,069.0% during the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Dodge & Cox raised its holdings in shares of Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Target Corporation in the second quarter valued at about $235,305,000. Franklin Resources Inc. raised its holdings in shares of Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after purchasing an additional 1,686,774 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Target Corporation by 45.1% in the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after purchasing an additional 1,629,222 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is currently 52.10%.
Target Corporation 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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