Equities analysts expect Target Co. (NYSE:TGT) to post $16.43 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Target’s earnings, with the lowest sales estimate coming in at $16.26 billion and the highest estimate coming in at $16.57 billion. Target reported sales of $16.02 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 16th.
According to Zacks, analysts expect that Target will report full-year sales of $16.43 billion for the current year, with estimates ranging from $70.92 billion to $72.76 billion. For the next financial year, analysts forecast that the company will report sales of $73.63 billion per share, with estimates ranging from $72.08 billion to $74.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Target.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion for the quarter, compared to analyst estimates of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr upgraded shares of Target from a “hold” rating to a “buy” rating and set a $75.42 target price for the company in a research note on Tuesday, March 6th. Susquehanna Bancshares set a $95.00 target price on shares of Target and gave the company a “buy” rating in a research note on Monday, March 5th. Telsey Advisory Group cut their target price on shares of Target from $83.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 7th. Finally, Credit Suisse Group assumed coverage on shares of Target in a research note on Monday, March 5th. They issued a “buy” rating and a $86.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.97.
Shares of Target (NYSE TGT) traded up $0.45 on Tuesday, reaching $71.08. 2,788,509 shares of the company’s stock were exchanged, compared to its average volume of 7,214,864. The company has a market capitalization of $38,403.41, a PE ratio of 13.29, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97. Target has a 1 year low of $48.56 and a 1 year high of $78.70.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.49%. Target’s dividend payout ratio (DPR) is presently 46.36%.
In other Target news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the sale, the insider now directly owns 16,906 shares of the company’s stock, valued at approximately $1,320,020.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the transaction, the insider now owns 13,288 shares in the company, valued at $1,019,721.12. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Target by 9.4% during the 4th quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock worth $695,229,000 after acquiring an additional 916,178 shares during the period. Geode Capital Management LLC lifted its stake in Target by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock valued at $401,296,000 after purchasing an additional 109,029 shares during the last quarter. American Century Companies Inc. lifted its stake in Target by 15.7% in the 4th quarter. American Century Companies Inc. now owns 6,059,271 shares of the retailer’s stock valued at $395,367,000 after purchasing an additional 821,165 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Target by 16.3% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,914,194 shares of the retailer’s stock valued at $289,987,000 after purchasing an additional 687,900 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Target by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 3,594,505 shares of the retailer’s stock valued at $212,117,000 after purchasing an additional 120,278 shares during the last quarter. Institutional investors own 87.02% of the company’s stock.
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Target 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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