Analysts Offer Predictions for Target Corporation’s Q1 2019 Earnings (TGT)
Target Corporation (NYSE:TGT) – Equities research analysts at Jefferies Group dropped their Q1 2019 earnings per share (EPS) estimates for shares of Target Corporation in a research report issued on Wednesday. Jefferies Group analyst D. Binder now expects that the retailer will earn $1.09 per share for the quarter, down from their prior estimate of $1.11. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Target Corporation’s Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $1.25 EPS, FY2020 earnings at $4.28 EPS, FY2021 earnings at $4.34 EPS and FY2022 earnings at $4.52 EPS.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target Corporation had a net margin of 3.80% and a return on equity of 24.09%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. COPYRIGHT VIOLATION WARNING: This article was first published by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/11/19/analysts-offer-predictions-for-target-corporations-q1-2019-earnings-tgt.html.
TGT has been the topic of a number of other reports. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 price objective on the stock. in a report on Monday, August 7th. Zacks Investment Research lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 21st. BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a report on Thursday, September 14th. Finally, Wells Fargo & Company initiated coverage on shares of Target Corporation in a report on Friday, November 3rd. They set a “market perform” rating and a $62.00 price objective on the stock. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. Target Corporation presently has an average rating of “Hold” and a consensus target price of $62.91.
Shares of Target Corporation (TGT) opened at $58.14 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market cap of $31,623.10, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 5.20 and a beta of 0.63. Target Corporation has a twelve month low of $48.56 and a twelve month high of $79.33.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is presently 51.88%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Target Corporation by 1.5% in the 2nd quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after buying an additional 775,265 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Target Corporation by 2,069.0% during the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after purchasing an additional 44,877,391 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Target Corporation by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after purchasing an additional 130,252 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Target Corporation by 8.7% during the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after purchasing an additional 1,686,774 shares during the last quarter. Finally, Dodge & Cox grew its holdings in shares of Target Corporation by 83.3% during the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.
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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