Target (NYSE:TGT) Releases Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.850-2.450 for the period, compared to the consensus estimate of 9.550. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TGT. TD Cowen boosted their target price on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Stifel Nicolaus lifted their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Melius Research started coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $171.90.

Target Stock Down 21.2 %

Shares of NYSE:TGT opened at $121.73 on Thursday. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average price is $152.33 and its 200-day moving average price is $150.12. The stock has a market capitalization of $56.08 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. On average, equities analysts anticipate that Target will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.