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

Wall Street analysts expect that Target Co. (NYSE:TGT) will announce $22.46 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Target’s earnings. The highest sales estimate is $22.61 billion and the lowest is $21.97 billion. Target reported sales of $20.69 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Target will report full-year sales of $22.46 billion for the current fiscal year, with estimates ranging from $71.08 billion to $71.78 billion. For the next financial year, analysts forecast that the business will post sales of $72.10 billion per share, with estimates ranging from $70.92 billion to $73.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Target.

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

A number of brokerages have commented on TGT. Vetr raised Target from a “sell” rating to a “hold” rating and set a $72.52 price objective for the company in a research note on Monday. Stifel Nicolaus set a $60.00 price objective on Target and gave the company a “hold” rating in a research note on Wednesday, October 18th. Robert W. Baird reissued a “hold” rating and issued a $70.00 price objective on shares of Target in a research note on Wednesday, January 3rd. Barclays raised Target from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $45.00 to $70.00 in a research note on Friday, January 5th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective (up previously from $65.00) on shares of Target in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $66.88.

Shares of Target (TGT) opened at $72.71 on Wednesday. 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 one year low of $48.56 and a one year high of $78.70. The company has a market capitalization of $39,520.00, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 3.45 and a beta of 0.75.

The business also recently announced 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 dividend yield of 3.41%. Target’s payout ratio is 52.10%.

In related news, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the sale, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the sale, the insider now owns 13,288 shares in the company, valued at $1,019,721.12. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock worth $1,185,484 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of TGT. Heritage Trust Co raised its stake in shares of Target by 129.7% in the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after buying an additional 1,000 shares during the period. SevenBridge Financial Group LLC raised its stake in shares of 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. Security Asset Management bought a new stake in shares of Target in the fourth quarter valued at $115,000. First Mercantile Trust Co. bought a new stake in shares of Target in the fourth quarter valued at $124,000. Finally, Jacobi Capital Management LLC raised its stake in shares of 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. Institutional investors and hedge funds own 87.36% of the company’s stock.

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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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