Wall Street brokerages predict that Target Co. (NYSE:TGT) will announce earnings per share (EPS) of $1.10 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Target’s earnings, with estimates ranging from $1.08 to $1.13. Target reported earnings per share of $0.91 during the same quarter last year, which would suggest a positive year over year growth rate of 20.9%. The firm is scheduled to report its next quarterly earnings results on Wednesday, November 21st.
According to Zacks, analysts expect that Target will report full year earnings of $5.38 per share for the current financial year, with EPS estimates ranging from $5.32 to $5.47. For the next financial year, analysts forecast that the business will report earnings of $5.62 per share, with EPS estimates ranging from $5.50 to $5.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Target.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. The company had revenue of $17.78 billion for the quarter, compared to analyst estimates of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. Target’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS.
A number of research analysts have recently commented on the company. MKM Partners set a $91.00 price objective on Target and gave the company a “buy” rating in a report on Friday, June 29th. ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Gordon Haskett upgraded Target from a “hold” rating to an “accumulate” rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Tuesday, August 7th. Finally, Loop Capital set a $102.00 price objective on Target and gave the company a “hold” rating in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.68.
In related news, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $88.00, for a total transaction of $1,335,136.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TGT. Sun Life Financial INC grew its stake in shares of Target by 739.5% in the 2nd quarter. Sun Life Financial INC now owns 1,444 shares of the retailer’s stock valued at $110,000 after purchasing an additional 1,272 shares during the last quarter. CSat Investment Advisory L.P. purchased a new position in shares of Target in the 2nd quarter valued at approximately $114,000. Duncker Streett & Co. Inc. grew its stake in shares of Target by 1,435.0% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock valued at $117,000 after purchasing an additional 1,435 shares during the last quarter. ELM Advisors LLC purchased a new position in shares of Target in the 3rd quarter valued at approximately $141,000. Finally, Squar Milner Financial Services LLC purchased a new position in shares of Target in the 2nd quarter valued at approximately $129,000. Hedge funds and other institutional investors own 83.59% of the company’s stock.
TGT stock opened at $82.02 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.26 and a beta of 0.70. Target has a 1 year low of $54.04 and a 1 year high of $90.39.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.12%. Target’s dividend payout ratio is presently 54.35%.
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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