Target Co. (TGT) Updates FY15 Earnings Guidance
Target Co. (NYSE:TGT) updated its FY15 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.10-3.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.46, Analyst Ratings Net reports. Target also updated its Q3 guidance to $0.40-0.50 EPS.
Shares of Target Co. (NYSE:TGT) opened at 59.25 on Wednesday. Target Co. has a 52 week low of $54.66 and a 52 week high of $67.25. The stock has a 50-day moving average of $59.50 and a 200-day moving average of $58.96. The company has a market cap of $37.547 billion and a P/E ratio of 19.78. Target also was the recipient of unusually large options trading activity on Tuesday. Traders bought 11,627 call options on the stock. This is an increase of 159% compared to the average volume of 4,490 call options.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Target Co. will post $3.49 EPS for the current fiscal year.
A number of analysts have recently weighed in on TGT shares. 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 analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $60.15.
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.
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