Target (NYSE:TGT) Releases Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.85-2.45 for the period, compared to the consensus estimate of $2.65. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Stock Down 0.0 %

Shares of NYSE TGT opened at $121.66 on Friday. 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 firm’s 50-day moving average price is $151.79 and its 200-day moving average price is $149.92. The stock has a market capitalization of $56.05 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 2.03 and a beta of 1.24.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is currently 46.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TGT shares. Wells Fargo & Company dropped their price target on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. UBS Group upped their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Bank of America lowered their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.13.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 12.08 % 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 valued at $8,290,995. 0.15% of the stock is currently owned by corporate insiders.

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.