Target (NYSE:TGT) updated its FY 2019
Pre-Market earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 6.25-6.45 for the period, compared to the Thomson Reuters consensus estimate of $6.39. Target also updated its Q4 guidance to ~$1.54-1.74 EPS.
Several analysts recently commented on the stock. Credit Suisse Group set a $112.00 price objective on shares of Target and gave the company a buy rating in a research note on Monday, September 23rd. Nomura assumed coverage on shares of Target in a research note on Friday, November 8th. They issued a buy rating and a $123.00 price objective for the company. ValuEngine cut shares of Target from a hold rating to a sell rating in a research note on Friday, January 3rd. Robert W. Baird raised their price objective on shares of Target from $115.00 to $140.00 in a research note on Wednesday, November 27th. Finally, Cowen reiterated a buy rating and issued a $150.00 price objective on shares of Target in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $117.19.
TGT traded down $0.58 during midday trading on Thursday, reaching $116.42. 3,707,033 shares of the company’s stock were exchanged, compared to its average volume of 3,548,540. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.15. The stock has a market capitalization of $63.47 billion, a PE ratio of 21.60, a P/E/G ratio of 2.60 and a beta of 0.56. The business’s 50-day moving average price is $126.16 and its 200 day moving average price is $107.55. Target has a 1-year low of $67.17 and a 1-year high of $130.24.
Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.17. The company had revenue of $18.41 billion during the quarter, compared to analysts’ expectations of $18.45 billion. Target had a net margin of 4.18% and a return on equity of 28.22%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. As a group, analysts expect that Target will post 6.38 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $2.64 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, February 18th. Target’s payout ratio is currently 48.98%.
Target declared that its Board of Directors has initiated a share repurchase program on Thursday, September 19th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the retailer to buy up to 9.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Target news, insider Don H. Liu sold 2,274 shares of Target stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $122.20, for a total transaction of $277,882.80. Following the completion of the transaction, the insider now owns 37,616 shares in the company, valued at $4,596,675.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 6,630 shares of Target stock in a transaction dated 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. 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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