Wall Street analysts expect Target Co. ((NYSE:TGT)) to report earnings of $3.27 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Target’s earnings. The highest EPS estimate is $3.51 and the lowest is $2.38. Target posted earnings of $3.38 per share in the same quarter last year, which would suggest a negative year over year growth rate of 3.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 18th.
On average, analysts expect that Target will report full-year earnings of $11.83 per share for the current year, with EPS estimates ranging from $8.50 to $12.97. For the next fiscal year, analysts forecast that the company will report earnings of $11.88 per share, with EPS estimates ranging from $9.50 to $13.33. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Target.
Target ((NYSE:TGT)) last released its quarterly earnings results on Tuesday, May 18th. The retailer reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $2.25 by $1.44. The firm had revenue of $23.88 billion for the quarter, compared to analyst estimates of $21.13 billion. Target had a net margin of 6.30% and a return on equity of 45.70%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share.
Several equities analysts have issued reports on the company. MKM Partners boosted their price objective on Target from $170.00 to $216.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 25th. Raymond James upped their price target on shares of Target from $215.00 to $252.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 20th. DA Davidson lowered their price objective on shares of Target from $229.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, March 3rd. UBS Group upgraded shares of Target from a “neutral” rating to a “buy” rating and upped their target price for the stock from $210.00 to $265.00 in a research report on Tuesday, June 8th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their price target on shares of Target from $233.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Target presently has an average rating of “Buy” and a consensus target price of $231.06.
In related news, CAO Robert M. Harrison sold 2,353 shares of the firm’s stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $203.61, for a total transaction of $479,094.33. Following the sale, the chief accounting officer now owns 10,395 shares of the company’s stock, valued at approximately $2,116,525.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cara A. Sylvester sold 1,950 shares of Target stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $227.56, for a total value of $443,742.00. Following the transaction, the insider now owns 7,360 shares in the company, valued at $1,674,841.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,366 shares of company stock valued at $9,144,828. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Citizens National Bank Trust Department boosted its holdings in shares of Target by 0.8% in the first quarter. Citizens National Bank Trust Department now owns 6,250 shares of the retailer’s stock valued at $1,238,000 after buying an additional 50 shares during the period. Arbor Investment Advisors LLC increased its holdings in Target by 2.5% during the 1st quarter. Arbor Investment Advisors LLC now owns 2,209 shares of the retailer’s stock worth $438,000 after purchasing an additional 53 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Target by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 809 shares of the retailer’s stock valued at $160,000 after purchasing an additional 54 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of Target by 21.6% in the first quarter. Laurel Wealth Advisors LLC now owns 304 shares of the retailer’s stock valued at $60,000 after purchasing an additional 54 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in shares of Target by 11.5% during the first quarter. Center for Financial Planning Inc. now owns 532 shares of the retailer’s stock worth $105,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
NYSE TGT opened at $233.77 on Tuesday. The stock’s 50 day simple moving average is $218.16. Target has a one year low of $116.73 and a one year high of $236.80. The company has a market cap of $115.65 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.48 and a beta of 1.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.51 and a current ratio of 1.07.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Wednesday, August 18th will be paid a dividend of $0.90 per share. This is a positive change from Target’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, August 17th. This represents a $3.60 annualized dividend and a yield of 1.54%. Target’s dividend payout ratio (DPR) is presently 28.87%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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