$18.39 Billion in Sales Expected for Target Co. (NYSE:TGT) This Quarter

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Analysts forecast that Target Co. (NYSE:TGT) will announce $18.39 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Target’s earnings, with the lowest sales estimate coming in at $18.33 billion and the highest estimate coming in at $18.43 billion. Target posted sales of $17.82 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is expected to issue its next earnings results on Tuesday, November 19th.

On average, analysts expect that Target will report full-year sales of $78.10 billion for the current financial year, with estimates ranging from $77.60 billion to $78.26 billion. For the next financial year, analysts anticipate that the business will post sales of $80.53 billion, with estimates ranging from $79.65 billion to $80.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Target.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Target had a return on equity of 26.48% and a net margin of 3.96%. The firm had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. During the same period in the prior year, the firm posted $1.47 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.

A number of research analysts have commented on the company. Bank of America reaffirmed a “buy” rating and issued a $125.00 price objective (up from $105.00) on shares of Target in a report on Thursday. Barclays reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Target in a report on Thursday, May 30th. JPMorgan Chase & Co. set a $100.00 target price on Target and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised Target from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $130.00 in a report on Thursday. Finally, Sanford C. Bernstein reissued a “mkt perform” rating on shares of Target in a report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Target has an average rating of “Buy” and a consensus price target of $98.11.

In related news, Director Roxanne S. Austin sold 4,163 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 8,367 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,421 shares of company stock valued at $2,162,689. 0.24% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new stake in shares of Target during the 2nd quarter worth $25,000. Advisory Alpha LLC bought a new stake in shares of Target during the 1st quarter worth $30,000. Icon Wealth Partners LLC bought a new stake in shares of Target during the 1st quarter worth $31,000. Larson Financial Group LLC bought a new stake in shares of Target during the 2nd quarter worth $31,000. Finally, C J Advisory Inc bought a new stake in shares of Target during the 1st quarter worth $33,000. Institutional investors and hedge funds own 82.12% of the company’s stock.

NYSE TGT traded up $1.66 on Monday, reaching $104.66. The stock had a trading volume of 859,822 shares, compared to its average volume of 5,221,293. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The firm has a fifty day moving average of $86.19 and a two-hundred day moving average of $80.56. Target has a 1-year low of $60.15 and a 1-year high of $103.38. The company has a market cap of $44.36 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio is 47.50%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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