Analysts Expect Target Co. (NYSE:TGT) to Announce $1.38 Earnings Per Share

Brokerages expect Target Co. (NYSE:TGT) to report earnings of $1.38 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Target’s earnings. The lowest EPS estimate is $0.87 and the highest is $1.80. Target posted earnings of $1.82 per share in the same quarter last year, which would indicate a negative year over year growth rate of 24.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 19th.

On average, analysts expect that Target will report full year earnings of $4.88 per share for the current fiscal year, with EPS estimates ranging from $4.43 to $5.45. For the next year, analysts expect that the company will report earnings of $6.61 per share, with EPS estimates ranging from $6.00 to $7.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Target.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The business had revenue of $19.37 billion during the quarter, compared to analysts’ expectations of $19.04 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year.

TGT has been the subject of several analyst reports. UBS Group upped their price target on Target from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America upped their price objective on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank upped their price objective on Target from $121.00 to $131.00 and gave the stock a “buy” rating in a report on Thursday. Cfra upped their price objective on Target from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Target in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Target currently has an average rating of “Buy” and an average price target of $128.21.

In other news, CAO Robert M. Harrison sold 464 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total value of $49,958.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 110,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the completion of the sale, the insider now owns 208,502 shares in the company, valued at $25,020,240. The disclosure for this sale can be found here. Insiders sold 111,095 shares of company stock worth $13,314,321 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Target by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 7,931,430 shares of the retailer’s stock valued at $1,015,843,000 after acquiring an additional 306,093 shares in the last quarter. Franklin Resources Inc. lifted its position in Target by 154.8% during the first quarter. Franklin Resources Inc. now owns 6,727,055 shares of the retailer’s stock worth $625,413,000 after buying an additional 4,087,269 shares during the period. Renaissance Technologies LLC lifted its position in Target by 36.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,671,968 shares of the retailer’s stock worth $727,203,000 after buying an additional 1,517,068 shares during the period. Nuveen Asset Management LLC lifted its position in Target by 3.9% during the first quarter. Nuveen Asset Management LLC now owns 5,340,745 shares of the retailer’s stock worth $496,529,000 after buying an additional 202,855 shares during the period. Finally, Norges Bank purchased a new position in Target during the fourth quarter worth about $684,508,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Shares of Target stock traded down $1.19 during trading hours on Monday, hitting $117.49. 4,835,356 shares of the company were exchanged, compared to its average volume of 5,780,963. Target has a 1 year low of $76.86 and a 1 year high of $130.24. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average of $109.72 and a 200-day moving average of $114.20. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 4.03 and a beta of 0.75.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $0.66 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.25%. Target’s dividend payout ratio is currently 41.31%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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