Brokerages forecast that Target Corporation (NYSE:TGT) will post earnings of $1.21 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Target Corporation’s earnings, with estimates ranging from $1.17 to $1.25. Target Corporation reported earnings of $1.23 per share during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, August 16th.
According to Zacks, analysts expect that Target Corporation will report full year earnings of $4.39 per share for the current fiscal year, with EPS estimates ranging from $4.21 to $4.62. For the next fiscal year, analysts forecast that the firm will post earnings of $4.33 per share, with EPS estimates ranging from $4.16 to $4.54. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Target Corporation.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter in the previous year, the business earned $1.29 EPS. Target Corporation’s revenue was down 1.1% compared to the same quarter last year.
A number of equities analysts have recently commented on the stock. UBS AG reaffirmed a “neutral” rating and set a $56.00 target price (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a research report on Monday. BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price on shares of Target Corporation in a research report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 target price on shares of Target Corporation in a research report on Tuesday, June 20th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.99.
In related news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. OLD National Bancorp IN boosted its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares in the last quarter. ING Groep NV boosted its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares in the last quarter. Honeywell International Inc. boosted its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock valued at $36,707,000 after buying an additional 205,700 shares in the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock valued at $1,349,000 after buying an additional 4,685 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares in the last quarter. 82.63% of the stock is owned by institutional investors.
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Target Corporation (TGT) traded up 2.26% on Tuesday, hitting $59.19. The company’s stock had a trading volume of 3,675,847 shares. The firm has a 50 day moving average of $53.26 and a 200 day moving average of $56.79. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 12.13 and a beta of 0.61. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.28%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is currently 48.98%.
Target Corporation 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.
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