Target (NYSE:TGT) updated its fourth quarter 2019
Pre-Market earnings guidance on Wednesday. The company provided EPS guidance of 1.54-1.74 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70. Target also updated its FY 2019
Pre-Market guidance to 6.25-6.45 EPS.
Shares of Target stock opened at $125.26 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. Target has a 12-month low of $67.17 and a 12-month high of $130.24. The company has a market capitalization of $63.21 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.59 and a beta of 0.56. The firm’s 50-day moving average price is $126.36 and its two-hundred day moving average price is $107.40.
Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.36 EPS for the quarter, beating the consensus estimate of $1.19 by $0.17. Target had a net margin of 4.18% and a return on equity of 28.22%. The company had revenue of $18.41 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the previous year, the company earned $1.09 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Target will post 6.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.64 annualized dividend and a yield of 2.11%. Target’s dividend payout ratio is currently 48.98%.
Target declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the retailer to repurchase up to 9.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have weighed in on TGT shares. Robert W. Baird raised their target price on Target from $115.00 to $140.00 in a report on Wednesday, November 27th. Evercore ISI initiated coverage on Target in a research note on Wednesday, November 20th. They issued a hold rating on the stock. Buckingham Research reissued a buy rating and set a $145.00 price target (up previously from $131.00) on shares of Target in a report on Thursday, November 21st. Goldman Sachs Group downgraded Target from a conviction-buy rating to a buy rating and set a $110.00 price objective for the company. in a research report on Friday, October 25th. Finally, Credit Suisse Group set a $112.00 price objective on Target and gave the stock a buy rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $117.19.
In related news, insider Don H. Liu sold 2,274 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $122.20, for a total value of $277,882.80. Following the completion of the transaction, the insider now owns 37,616 shares in the company, valued at approximately $4,596,675.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 6,630 shares of Target stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $127.00, for a total transaction of $842,010.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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 décor products, electronics, toys, seasonal offerings, and other merchandise.
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