Wall Street brokerages expect that Target Co. (NYSE:TGT) will post sales of $22.00 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Target’s earnings. The highest sales estimate is $22.19 billion and the lowest is $21.69 billion. Target reported sales of $20.69 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The firm is scheduled to issue its next earnings results on Tuesday, February 27th.

On average, analysts expect that Target will report full year sales of $22.00 billion for the current financial year, with estimates ranging from $70.81 billion to $71.30 billion. For the next fiscal year, analysts expect that the business will post sales of $71.02 billion per share, with estimates ranging from $69.75 billion to $71.70 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Target.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS.

A number of analysts have weighed in on TGT shares. Barclays set a $45.00 price target on Target and gave the company a “sell” rating in a research report on Wednesday, November 15th. Stifel Nicolaus cut their target price on Target from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Thursday, November 16th. Vetr lowered Target from a “buy” rating to a “hold” rating and set a $57.89 price target on the stock. in a research note on Thursday, August 17th. MKM Partners upped their target price on Target from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.25.

In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiera Capital Corp grew its stake in Target by 0.4% in the 2nd quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock worth $256,000 after acquiring an additional 19 shares in the last quarter. Gamble Jones Investment Counsel lifted its position in Target by 0.4% during the second quarter. Gamble Jones Investment Counsel now owns 10,570 shares of the retailer’s stock valued at $553,000 after acquiring an additional 44 shares during the last quarter. Carlson Capital Management lifted its position in Target by 0.9% during the second quarter. Carlson Capital Management now owns 8,060 shares of the retailer’s stock valued at $421,000 after acquiring an additional 69 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Target by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,847 shares of the retailer’s stock worth $515,000 after buying an additional 74 shares during the last quarter. Finally, WealthTrust Fairport LLC raised its holdings in shares of Target by 1.6% in the second quarter. WealthTrust Fairport LLC now owns 6,051 shares of the retailer’s stock worth $316,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

Target (TGT) traded down $1.78 on Friday, reaching $59.90. The company had a trading volume of 14,923,000 shares, compared to its average volume of 7,416,242. Target has a 12-month low of $48.56 and a 12-month high of $78.69. The firm has a market cap of $32,960.00, a price-to-earnings ratio of 11.80, a P/E/G ratio of 7.00 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.14%. Target’s dividend payout ratio is presently 52.10%.

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Target 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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Earnings History and Estimates for Target (NYSE:TGT)

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