Target Co. (TGT) Issues Q3 Earnings Guidance
Target Co. (NYSE:TGT) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.40-0.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.66, AnalystRatingsNetwork.com reports. Target also updated its FY15 guidance to $3.10-3.30 EPS.
TGT has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a neutral rating on shares of Target in a research note on Wednesday, August 6th. They now have a $60.00 price target on the stock, down previously from $62.00. On a related note, analysts at Morgan Stanley cut their price target on shares of Target from $60.00 to $58.00 in a research note on Wednesday, August 6th. Finally, analysts at Deutsche Bank cut their price target on shares of Target from $58.00 to $57.00 in a research note on Wednesday, August 6th. They now have a hold rating on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $60.15.
Target Co. (NYSE:TGT) opened at 59.25 on Wednesday. Target Co. has a one year low of $54.66 and a one year high of $67.25. The stock’s 50-day moving average is $59.50 and its 200-day moving average is $58.96. The company has a market cap of $37.547 billion and a price-to-earnings ratio of 19.78. Target also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 11,627 call options on the stock. This represents an increase of approximately 159% compared to the typical volume of 4,490 call options.
Target (NYSE:TGT) last released its earnings data on Wednesday, August 20th. The company reported $0.78 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.80 by $0.02. The company had revenue of $17.00 billion for the quarter, compared to the consensus estimate of $17.39 billion. During the same quarter last year, the company posted $0.95 earnings per share. Target’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Target Co. will post $3.49 EPS for the current fiscal year.
Target Corporation sells a range of assortment of general merchandise and food in its stores. The Company’s general merchandise and CityTarget stores offer a food assortment on a smaller scale and its SuperTarget stores offer a line of food items comparable to traditional supermarkets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.