Target (NYSE:TGT) Issues FY19 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.15-5.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.36. Target also updated its Q4 guidance to $1.30-1.40 EPS.

Shares of Target (NYSE TGT) traded up $0.12 during trading on Wednesday, reaching $75.22. 8,710,000 shares of the company’s stock were exchanged, compared to its average volume of 7,370,000. Target has a 12 month low of $48.56 and a 12 month high of $78.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. The stock has a market capitalization of $40,890.00, a PE ratio of 15.80, a PEG ratio of 4.05 and a beta of 0.63.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The company had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. During the same period last year, the company posted $1.04 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts predict that Target will post 4.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.30%. Target’s dividend payout ratio (DPR) is 52.10%.

A number of brokerages have recently weighed in on TGT. Zacks Investment Research cut shares of Target from a buy rating to a hold rating in a research note on Monday, October 23rd. Stifel Nicolaus reissued a hold rating and set a $75.00 price objective on shares of Target in a research note on Thursday, January 11th. Telsey Advisory Group dropped their price objective on shares of Target from $60.00 to $58.00 and set an outperform rating for the company in a research note on Thursday, November 16th. Barclays set a $45.00 price objective on shares of Target and gave the stock a sell rating in a research note on Wednesday, November 15th. Finally, Vetr cut shares of Target from a strong-buy rating to a buy rating and set a $66.10 price objective for the company. in a research note on Wednesday, November 29th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $66.78.

In other Target news, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the transaction, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,262 shares of company stock worth $1,185,484. 0.20% of the stock is owned by company insiders.

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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.

Earnings History and Estimates for Target (NYSE:TGT)

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