Equities research analysts expect that Target Co. (NYSE:TGT) will post sales of $21.47 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Target’s earnings. The highest sales estimate is $22.95 billion and the lowest is $20.72 billion. Target posted sales of $19.62 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, May 19th.
According to Zacks, analysts expect that Target will report full-year sales of $92.13 billion for the current financial year, with estimates ranging from $89.70 billion to $95.16 billion. For the next financial year, analysts forecast that the firm will report sales of $95.71 billion, with estimates ranging from $92.66 billion to $97.95 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Target.
Target (NYSE:TGT) last released its earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.13. The business had revenue of $28 billion for the quarter, compared to analyst estimates of $27.42 billion. Target had a return on equity of 34.94% and a net margin of 4.31%. Target’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 earnings per share.
Several research analysts have recently weighed in on TGT shares. Stifel Nicolaus boosted their price objective on shares of Target from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, March 30th. BMO Capital Markets boosted their price target on Target from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 9th. Cowen lifted their target price on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, January 14th. Morgan Stanley increased their price target on Target from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 20th. Finally, Telsey Advisory Group cut their price target on Target from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, March 3rd. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Target has a consensus rating of “Buy” and an average price target of $186.35.
In other news, insider Michael Edward Mcnamara sold 31,423 shares of the company’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $204.32, for a total transaction of $6,420,347.36. Following the completion of the sale, the insider now owns 139,768 shares of the company’s stock, valued at approximately $28,557,397.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 1,852 shares of the stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $183.00, for a total transaction of $338,916.00. Following the sale, the insider now owns 25,249 shares in the company, valued at approximately $4,620,567. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,510 shares of company stock worth $8,002,521. Corporate insiders own 0.52% of the company’s stock.
Several hedge funds have recently modified their holdings of TGT. Clark Financial Advisors acquired a new stake in Target in the fourth quarter valued at about $27,000. Tortoise Investment Management LLC bought a new position in Target in the 4th quarter valued at approximately $27,000. IronBridge Private Wealth LLC acquired a new stake in Target in the fourth quarter valued at approximately $28,000. Paradigm Strategies in Wealth Management LLC bought a new stake in shares of Target during the first quarter worth $28,000. Finally, Semmax Financial Advisors Inc. grew its position in Target by 7,200.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 146 shares of the retailer’s stock worth $29,000 after acquiring an additional 144 shares during the last quarter. 79.17% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TGT traded up $0.33 on Thursday, hitting $211.61. 2,093,152 shares of the stock were exchanged, compared to its average volume of 3,676,783. The company has a market capitalization of $105.29 billion, a PE ratio of 27.86, a P/E/G ratio of 2.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.05 and a quick ratio of 0.39. The business’s fifty day moving average is $199.83 and its 200 day moving average is $182.75. Target has a 52 week low of $110.47 and a 52 week high of $212.82.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s dividend payout ratio is currently 42.57%.
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home dÃ©cor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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