Target Corporation (TGT) Updates FY18 Earnings Guidance
Target Corporation (NYSE:TGT) updated its FY18 earnings guidance on Monday. The company provided earnings per share guidance of $4.34-4.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.50. Target Corporation also updated its Q3 guidance to $0.95 EPS.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets reissued a market weight rating on shares of Target Corporation in a research note on Thursday, September 14th. Vetr downgraded Target Corporation from a buy rating to a hold rating and set a $59.67 target price for the company. in a research note on Monday, August 7th. BidaskClub raised Target Corporation from a hold rating to a buy rating in a research note on Sunday, August 6th. MKM Partners increased their target price on Target Corporation from $58.00 to $69.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Finally, ValuEngine downgraded Target Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $61.64.
Target Corporation (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s payout ratio is 50.00%.
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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The disclosure for this sale can be found here. Insiders own 0.20% 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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