Brokerages Expect Target Co. (NYSE:TGT) Will Post Earnings of $3.27 Per Share

Analysts forecast that Target Co. (NYSE:TGT) will report $3.27 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Target’s earnings. The highest EPS estimate is $3.51 and the lowest is $2.38. Target posted earnings per share of $3.38 in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The business is expected to issue its next quarterly earnings report on Wednesday, August 18th.

On average, analysts expect that Target will report full year earnings of $11.83 per share for the current financial year, with EPS estimates ranging from $8.50 to $12.97. For the next year, analysts expect that the firm will post earnings of $11.88 per share, with EPS estimates ranging from $9.50 to $13.33. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Target.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, May 18th. The retailer reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $1.44. The company had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $21.13 billion. Target had a net margin of 6.30% and a return on equity of 45.70%. Target’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS.

A number of research firms have recently commented on TGT. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research note on Friday, March 5th. Jefferies Financial Group decreased their target price on shares of Target from $205.00 to $188.00 and set a “hold” rating for the company in a report on Wednesday, March 3rd. Stifel Nicolaus upped their target price on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, March 30th. DA Davidson reduced their price target on shares of Target from $229.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, March 3rd. Finally, Morgan Stanley increased their target price on Target from $205.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, May 24th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Target presently has a consensus rating of “Buy” and an average target price of $231.06.

In other Target news, insider Cara A. Sylvester sold 1,950 shares of the company’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $227.56, for a total value of $443,742.00. Following the completion of the transaction, the insider now directly owns 7,360 shares in the company, valued at $1,674,841.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Schindele sold 4,758 shares of the stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $218.05, for a total transaction of $1,037,481.90. Following the completion of the sale, the insider now directly owns 8,421 shares of the company’s stock, valued at $1,836,199.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,218 shares of company stock valued at $9,483,744. Company insiders own 0.52% of the company’s stock.

Large investors have recently bought and sold shares of the business. Dakota Wealth Management raised its stake in Target by 34.6% during the 1st quarter. Dakota Wealth Management now owns 12,382 shares of the retailer’s stock valued at $2,453,000 after purchasing an additional 3,185 shares during the period. PFG Advisors acquired a new position in shares of Target during the first quarter valued at about $3,098,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Target by 5.6% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 41,153 shares of the retailer’s stock valued at $7,265,000 after purchasing an additional 2,200 shares during the last quarter. Mountain Capital Investment Advisors Inc boosted its stake in Target by 19.3% in the 1st quarter. Mountain Capital Investment Advisors Inc now owns 7,259 shares of the retailer’s stock worth $1,488,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in Target by 6.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 19,739 shares of the retailer’s stock worth $3,910,000 after purchasing an additional 1,135 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of TGT traded down $0.28 during mid-day trading on Thursday, reaching $231.66. The company had a trading volume of 2,562,932 shares, compared to its average volume of 3,725,660. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.07 and a quick ratio of 0.51. The stock has a market capitalization of $114.61 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The stock’s 50-day moving average is $213.63. Target has a 52 week low of $114.81 and a 52 week high of $236.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Wednesday, August 18th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, August 17th. This is a positive change from Target’s previous quarterly dividend of $0.68. Target’s payout ratio is currently 28.87%.

About Target

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

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Earnings History and Estimates for Target (NYSE:TGT)

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