Equities research analysts expect Target Corporation (NYSE:TGT) to post sales of $16.52 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Target Corporation’s earnings, with the lowest sales estimate coming in at $16.22 billion and the highest estimate coming in at $16.76 billion. Target Corporation posted sales of $16.44 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The business is scheduled to report its next earnings report before the market opens on Wednesday, November 15th.
According to Zacks, analysts expect that Target Corporation will report full year sales of $16.52 billion for the current year, with estimates ranging from $70.00 billion to $71.32 billion. For the next year, analysts expect that the business will post sales of $70.40 billion per share, with estimates ranging from $69.04 billion to $70.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Target Corporation.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Target Corporation in a report on Friday, November 3rd. They set a “market perform” rating and a $62.00 price target on the stock. Zacks Investment Research downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Stifel Nicolaus set a $60.00 price target on shares of Target Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. MKM Partners assumed coverage on shares of Target Corporation in a report on Wednesday, October 18th. They set a “buy” rating and a $85.00 price target on the stock. Finally, TheStreet raised shares of Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.68.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in Target Corporation by 1.5% during the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock worth $2,716,176,000 after buying an additional 775,265 shares during the period. BlackRock Inc. boosted its stake 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 period. Vanguard Group Inc. boosted its stake in Target Corporation by 0.4% during the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock worth $1,942,803,000 after buying an additional 130,252 shares during the period. Franklin Resources Inc. boosted its stake in Target Corporation by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after buying an additional 1,686,774 shares during the period. Finally, Dodge & Cox boosted its stake in Target Corporation by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after buying an additional 9,102,526 shares during the period. 83.70% of the stock is owned by institutional investors.
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Shares of Target Corporation (TGT) opened at $61.40 on Friday. Target Corporation has a twelve month low of $48.56 and a twelve month high of $79.33. The stock has a market cap of $33,538.64, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.90 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is currently 50.00%.
About Target Corporation
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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