$16.48 Billion in Sales Expected for Target Corporation (TGT) This Quarter
Brokerages predict that Target Corporation (NYSE:TGT) will announce sales of $16.48 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Target Corporation’s earnings, with the highest sales estimate coming in at $16.66 billion and the lowest estimate coming in at $16.22 billion. Target Corporation posted sales of $16.44 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.2%. The business is expected to report its next quarterly earnings results on Wednesday, November 15th.
On average, analysts expect that Target Corporation will report full year sales of $16.48 billion for the current fiscal year, with estimates ranging from $70.00 billion to $70.91 billion. For the next fiscal year, analysts forecast that the firm will report sales of $70.21 billion per share, with estimates ranging from $69.04 billion to $70.87 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Target Corporation.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share.
Several research analysts have recently issued reports on TGT shares. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a report on Monday, June 19th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird restated a “neutral” rating and issued a $55.00 target price on shares of Target Corporation in a report on Friday, July 14th. Finally, MKM Partners upped their target price on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $61.64.
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Shares of Target Corporation (NYSE TGT) opened at 59.96 on Friday. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a market capitalization of $32.75 billion, a P/E ratio of 12.12 and a beta of 0.60. The firm has a 50-day moving average of $56.66 and a 200 day moving average of $55.03.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of Target Corporation 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Target Corporation by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after purchasing an additional 399 shares during the period. Penserra Capital Management LLC raised its stake in shares of Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after purchasing an additional 204 shares during the period. Davidson Investment Advisors raised its stake in shares of Target Corporation by 18.5% during the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after purchasing an additional 400 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of Target Corporation by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after purchasing an additional 445 shares during the period. Finally, Rowland & Co. Investment Counsel ADV raised its stake in shares of Target Corporation by 4.7% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after purchasing an additional 132 shares during the period. Institutional investors own 83.33% of the company’s stock.
About Target Corporation
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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