Wall Street analysts expect that Target Co. (NYSE:TGT) will announce sales of $17.30 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Target’s earnings. The lowest sales estimate is $17.20 billion and the highest is $17.45 billion. Target reported sales of $16.43 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The company is expected to announce its next earnings report on Wednesday, August 15th.
According to Zacks, analysts expect that Target will report full year sales of $73.51 billion for the current financial year, with estimates ranging from $73.08 billion to $73.80 billion. For the next financial year, analysts expect that the business will post sales of $75.01 billion per share, with estimates ranging from $74.42 billion to $75.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Target.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 23rd. The retailer reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Target had a net margin of 4.09% and a return on equity of 23.34%. The firm had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis.
A number of analysts recently issued reports on TGT shares. Vetr downgraded shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a report on Tuesday, February 27th. Credit Suisse Group started coverage on shares of Target in a report on Monday, March 5th. They set a “buy” rating and a $86.00 price objective for the company. Susquehanna Bancshares set a $95.00 price objective on shares of Target and gave the stock a “buy” rating in a report on Monday, March 5th. Telsey Advisory Group decreased their price objective on shares of Target from $83.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, March 7th. Finally, Morgan Stanley set a $64.00 price objective on shares of Target and gave the stock a “sell” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Target currently has an average rating of “Hold” and a consensus target price of $75.47.
Target traded up $1.33, reaching $77.66, during trading hours on Friday, according to MarketBeat.com. 199,762 shares of the company were exchanged, compared to its average volume of 5,271,067. Target has a 1 year low of $50.04 and a 1 year high of $79.59. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90. The company has a market capitalization of $40.97 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.43 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be paid a $0.64 dividend. This is an increase from Target’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, August 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.30%. Target’s dividend payout ratio (DPR) is presently 52.65%.
In related news, insider Don H. Liu sold 2,735 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $205,125.00. Following the completion of the transaction, the insider now owns 62,210 shares of the company’s stock, valued at $4,665,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laysha Ward sold 43,926 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the transaction, the insider now directly owns 90,460 shares of the company’s stock, valued at approximately $7,176,191.80. The disclosure for this sale can be found here. Insiders sold 170,186 shares of company stock valued at $12,287,710 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
Large investors have recently modified their holdings of the stock. Lee Financial Co grew its stake in Target by 168.7% during the first quarter. Lee Financial Co now owns 1,435 shares of the retailer’s stock valued at $100,000 after acquiring an additional 901 shares in the last quarter. Westside Investment Management Inc. grew its stake in Target by 128.6% during the fourth quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock valued at $107,000 after acquiring an additional 900 shares in the last quarter. Signaturefd LLC purchased a new position in Target during the first quarter valued at approximately $112,000. Stelac Advisory Services LLC purchased a new position in Target during the first quarter valued at approximately $128,000. Finally, SWS Partners purchased a new position in Target during the fourth quarter valued at approximately $132,000. 85.42% of the stock is owned by institutional investors.
Target Company Profile
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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