Target (TGT) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Target (NYSE:TGT) issued its quarterly earnings results on Wednesday, May 23rd. The retailer reported $1.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.06), Bloomberg Earnings reports. The business had revenue of $16.78 billion for the quarter, compared to analyst estimates of $16.58 billion. Target had a return on equity of 23.34% and a net margin of 4.09%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Target updated its Q2 guidance to $1.30-1.50 EPS and its FY19 guidance to $5.15-5.45 EPS.

Shares of TGT stock traded down $0.80 on Thursday, hitting $77.22. 4,246,196 shares of the stock traded hands, compared to its average volume of 6,151,332. The company has a current ratio of 0.90, a quick ratio of 0.18 and a debt-to-equity ratio of 1.18. The firm has a market cap of $42.15 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.50 and a beta of 0.72. Target has a 1-year low of $48.56 and a 1-year high of $79.59.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be given a dividend of $0.64 per share. This is a positive change from Target’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.32%. Target’s dividend payout ratio is currently 52.65%.

In other news, insider Don H. Liu sold 2,735 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $75.00, for a total value of $205,125.00. Following the completion of the transaction, the insider now owns 62,210 shares of the company’s stock, valued at $4,665,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laysha Ward sold 43,926 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $79.33, for a total value of $3,484,649.58. Following the completion of the transaction, the insider now directly owns 90,460 shares of the company’s stock, valued at approximately $7,176,191.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,186 shares of company stock worth $12,287,710. Corporate insiders own 0.19% of the company’s stock.

Several equities analysts have commented on TGT shares. Vetr upgraded shares of Target from a “hold” rating to a “buy” rating and set a $75.42 price target on the stock in a research note on Tuesday, March 6th. Susquehanna Bancshares set a $95.00 target price on shares of Target and gave the stock a “buy” rating in a research report on Monday, March 5th. Credit Suisse Group assumed coverage on shares of Target in a research report on Monday, March 5th. They set a “buy” rating and a $86.00 target price on the stock. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Finally, MKM Partners set a $93.00 target price on shares of Target and gave the stock a “buy” rating in a research report on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $73.58.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

Earnings History for Target (NYSE:TGT)

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