Zacks: Analysts Anticipate Target Co. (NYSE:TGT) to Announce $2.06 Earnings Per Share

Brokerages predict that Target Co. (NYSE:TGT) will report earnings of $2.06 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Target’s earnings, with the highest EPS estimate coming in at $2.40 and the lowest estimate coming in at $1.55. Target posted earnings of $1.69 per share during the same quarter last year, which would suggest a positive year over year growth rate of 21.9%. The firm is expected to announce its next earnings results on Tuesday, March 2nd.

According to Zacks, analysts expect that Target will report full-year earnings of $8.53 per share for the current fiscal year, with EPS estimates ranging from $7.35 to $9.17. For the next fiscal year, analysts expect that the business will report earnings of $8.35 per share, with EPS estimates ranging from $7.00 to $9.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Target.

Target (NYSE:TGT) last posted its earnings results on Tuesday, November 17th. The retailer reported $2.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.19. The firm had revenue of $22.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Target had a return on equity of 30.25% and a net margin of 4.16%. During the same quarter in the previous year, the business earned $1.36 earnings per share.

Several research analysts have commented on the company. DA Davidson assumed coverage on Target in a research report on Friday, August 14th. They set a “buy” rating and a $152.00 price target on the stock. MKM Partners raised Target from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $127.00 to $156.00 in a research report on Thursday. Raymond James lifted their price target on Target from $180.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Thursday. UBS Group lifted their price target on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Target in a research report on Wednesday, September 23rd. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $147.14.

In other Target news, insider Michael Edward Mcnamara sold 27,726 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $157.15, for a total transaction of $4,357,140.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 4,471 shares of the business’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $161.00, for a total value of $719,831.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,789 shares of company stock worth $7,773,422. 0.52% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC purchased a new stake in Target during the third quarter worth $32,000. Advisory Alpha LLC purchased a new stake in Target during the third quarter worth $36,000. Rockbridge Investment Management LCC purchased a new stake in Target during the second quarter worth $27,000. Hexagon Capital Partners LLC purchased a new stake in Target during the third quarter worth $35,000. Finally, JJJ Advisors Inc. lifted its position in shares of Target by 141.8% in the third quarter. JJJ Advisors Inc. now owns 237 shares of the retailer’s stock valued at $37,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 80.87% of the company’s stock.

TGT opened at $172.31 on Tuesday. The firm has a market cap of $86.26 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.85. Target has a 52 week low of $90.17 and a 52 week high of $174.41. The business’s 50 day moving average is $160.71 and its two-hundred day moving average is $137.47. The company has a quick ratio of 0.55, a current ratio of 1.11 and a debt-to-equity ratio of 1.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, November 17th. Target’s dividend payout ratio is presently 42.57%.

Target Company Profile

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 décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

Further Reading: Quiet Period Expirations

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Earnings History and Estimates for Target (NYSE:TGT)

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