Target (TGT) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Target (NYSE:TGT) announced its earnings results on Wednesday. The retailer reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.10, RTT News reports. The company had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share.

NYSE TGT opened at $71.96 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20. The stock has a market cap of $36.93 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.94 and a beta of 0.65. Target has a 52-week low of $60.15 and a 52-week high of $90.39.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.56%. Target’s dividend payout ratio (DPR) is presently 47.50%.

In other Target news, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total transaction of $2,220,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the transaction, the insider now owns 12,836 shares of the company’s stock, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. Insiders have sold 36,977 shares of company stock valued at $2,774,409 in the last quarter. Company insiders own 0.19% of the company’s stock.

TGT has been the subject of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 target price (up previously from $88.00) on shares of Target in a report on Thursday, April 18th. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, March 8th. Finally, Evercore ISI began coverage on shares of Target in a report on Wednesday, March 20th. They set an “in-line” rating and a $80.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Target has an average rating of “Buy” and an average price target of $88.61.

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About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Earnings History for Target (NYSE:TGT)

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