$22.46 Billion in Sales Expected for Target Co. (TGT) This Quarter

Brokerages expect that Target Co. (NYSE:TGT) will report $22.46 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Target’s earnings, with the highest sales estimate coming in at $22.61 billion and the lowest estimate coming in at $21.97 billion. Target posted sales of $20.69 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is expected to report its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Target will report full-year sales of $22.46 billion for the current year, with estimates ranging from $71.08 billion to $71.78 billion. For the next financial year, analysts forecast that the company will report sales of $72.10 billion per share, with estimates ranging from $70.92 billion to $73.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Target.

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

A number of equities research analysts recently commented on TGT shares. TheStreet upgraded Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and issued a $70.00 price objective on shares of Target in a report on Wednesday, January 3rd. MKM Partners set a $77.00 price objective on Target and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Morgan Stanley decreased their target price on Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.78.

Shares of Target (NYSE:TGT) opened at $78.10 on Friday. The company has a market capitalization of $42,450.00, a PE ratio of 16.41, a P/E/G ratio of 4.10 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Target has a fifty-two week low of $48.56 and a fifty-two week high of $78.17.

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.18%. Target’s dividend payout ratio (DPR) is presently 52.10%.

In related news, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bedell Frazier Investment Counseling LLC acquired a new position in Target during the third quarter valued at approximately $219,000. Heritage Trust Co boosted its position in Target by 129.7% during the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC raised its stake in Target by 2,200.0% in the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after buying an additional 1,826 shares during the period. Jacobi Capital Management LLC raised its stake in Target by 109.8% in the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after buying an additional 1,310 shares during the period. Finally, Cable Hill Partners LLC raised its stake in Target by 848.8% in the third quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock valued at $157,000 after buying an additional 2,385 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

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About Target

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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