$1.21 Earnings Per Share Expected for Target Corporation (NYSE:TGT) This Quarter
Equities analysts expect that Target Corporation (NYSE:TGT) will announce $1.21 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Target Corporation’s earnings. The highest EPS estimate is $1.25 and the lowest is $1.17. Target Corporation posted earnings per share of $1.23 in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.6%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, August 16th.
According to Zacks, analysts expect that Target Corporation will report full year earnings of $4.39 per share for the current financial year, with EPS estimates ranging from $4.21 to $4.62. For the next fiscal year, analysts forecast that the firm will report earnings of $4.33 per share, with EPS estimates ranging from $4.16 to $4.54. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Target Corporation.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 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 business 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 earned $1.29 EPS. The business’s revenue was down 1.1% on a year-over-year basis.
A number of analysts have recently commented on TGT shares. BidaskClub cut shares of Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Gordon Haskett started coverage on shares of Target Corporation in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 target price for the company. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 target price for the company in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $59.00 target price on shares of Target Corporation in a research note on Tuesday, June 20th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.99.
Target Corporation (TGT) traded up 2.26% on Tuesday, hitting $59.19. 3,675,847 shares of the company’s stock traded hands. The stock has a 50-day moving average of $53.26 and a 200-day moving average of $56.79. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock has a market cap of $32.66 billion, a PE ratio of 12.13 and a beta of 0.61.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 48.98%.
In related news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Cribstone Capital Management LLC increased its stake in shares of Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in shares of Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Target Corporation by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after buying an additional 399 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Target Corporation during the first quarter worth approximately $123,000. Finally, Peoples Financial Services CORP. increased its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares in the last quarter. 82.63% of the stock is currently owned by hedge funds and other institutional investors.
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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