Zacks: Analysts Expect Target Corporation (TGT) Will Announce Earnings of $1.05 Per Share
Wall Street analysts forecast that Target Corporation (NYSE:TGT) will report earnings per share (EPS) of $1.05 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Target Corporation’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.10. Target Corporation reported earnings per share of $1.23 in the same quarter last year, which suggests a negative year over year growth rate of 14.6%. The business is expected to issue its next earnings results before the market opens on Wednesday, August 16th.
On average, analysts expect that Target Corporation will report full year earnings of $4.16 per share for the current fiscal year, with EPS estimates ranging from $3.95 to $4.35. For the next financial year, analysts anticipate that the business will post earnings of $4.14 per share, with EPS estimates ranging from $3.90 to $4.29. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Target Corporation.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Target Corporation’s revenue for the quarter was down 1.1% on a year-over-year basis.
Several research analysts have recently commented on TGT shares. BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Buckingham Research restated a “buy” rating and set a $71.00 price target on shares of Target Corporation in a research report on Wednesday, April 19th. Barclays PLC dropped their target price on shares of Target Corporation from $60.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Gordon Haskett assumed coverage on shares of Target Corporation in a report on Tuesday, May 9th. They issued a “sell” rating and a $47.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.76.
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Several institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its stake in Target Corporation by 4.6% in the fourth quarter. Bessemer Group Inc. now owns 44,488 shares of the retailer’s stock worth $3,214,000 after buying an additional 1,945 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Target Corporation by 79.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 21,957 shares of the retailer’s stock worth $1,586,000 after buying an additional 9,709 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Target Corporation by 0.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 871,102 shares of the retailer’s stock worth $62,920,000 after buying an additional 6,972 shares during the period. Private Advisory Group LLC acquired a new position in shares of Target Corporation during the fourth quarter worth about $771,000. Finally, Wetherby Asset Management Inc. increased its position in shares of Target Corporation by 4.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 15,263 shares of the retailer’s stock worth $1,102,000 after buying an additional 694 shares during the period. 83.00% of the stock is currently owned by institutional investors.
Target Corporation (TGT) opened at 50.63 on Friday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a 50-day moving average of $55.56 and a 200 day moving average of $61.25. The firm has a market cap of $27.93 billion, a P/E ratio of 10.38 and a beta of 0.58.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.90%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 48.98%.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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