Target (TGT) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Target (NYSE:TGT) posted its quarterly earnings results on Wednesday. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.02, Analyst Ratings.Net reports. The company had revenue of $17.00 billion for the quarter.
Shares of Target (NYSE:TGT) opened at 59.25 on Wednesday. Target 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 price-to-earnings ratio of 19.78. Target also was the recipient of unusually large options trading on Tuesday. Stock investors purchased 11,627 call options on the company. This is an increase of 159% compared to the average volume of 4,490 call options.
A number of research firms have recently commented on TGT. 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price 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.
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.