Jefferies Group Brokers Cut Earnings Estimates for Target Corporation (TGT)
Target Corporation (NYSE:TGT) – Research analysts at Jefferies Group lowered their FY2018 earnings estimates for Target Corporation in a report released on Wednesday. Jefferies Group analyst D. Binder now anticipates that the retailer will post earnings of $4.60 per share for the year, down from their previous forecast of $4.70. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Target Corporation’s Q4 2018 earnings at $1.26 EPS and FY2019 earnings at $4.27 EPS.
A number of other research analysts have also commented on the company. Vetr lowered Target Corporation from a “strong-buy” rating to a “buy” rating and set a $64.00 price objective on the stock. in a report on Monday. Barclays PLC set a $45.00 price objective on Target Corporation and gave the company a “sell” rating in a report on Wednesday, November 15th. Morgan Stanley lowered their price objective on Target Corporation from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday. Stifel Nicolaus decreased their target price on Target Corporation from $65.00 to $62.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Telsey Advisory Group decreased their target price on Target Corporation from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company. Target Corporation presently has a consensus rating of “Hold” and a consensus target price of $63.17.
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Target Corporation (NYSE TGT) opened at $58.14 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. The company has a market capitalization of $31,760.00, a PE ratio of 12.11, a PEG ratio of 7.19 and a beta of 0.63. Target Corporation has a fifty-two week low of $48.56 and a fifty-two week high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target Corporation had a return on equity of 24.09% and a net margin of 3.80%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fiera Capital Corp increased its holdings in Target Corporation by 0.4% during the 2nd quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock valued at $256,000 after purchasing an additional 19 shares in the last quarter. Gamble Jones Investment Counsel increased its holdings in Target Corporation by 0.4% during the 2nd quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock valued at $553,000 after purchasing an additional 44 shares in the last quarter. Carlson Capital Management increased its holdings in Target Corporation by 0.9% during the 2nd quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock valued at $421,000 after purchasing an additional 69 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Target Corporation by 0.8% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,847 shares of the retailer’s stock valued at $515,000 after purchasing an additional 74 shares in the last quarter. Finally, BTIM Corp. increased its holdings in Target Corporation by 0.7% during the 2nd quarter. BTIM Corp. now owns 10,352 shares of the retailer’s stock valued at $541,000 after purchasing an additional 77 shares in the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. Target Corporation’s dividend payout ratio (DPR) is presently 52.10%.
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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