Target (NYSE:TGT) Updates Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.850-2.450 for the period, compared to the consensus estimate of 2.650. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Stock Performance

Shares of TGT stock opened at $133.06 on Friday. The stock has a market capitalization of $60.97 billion, a PE ratio of 14.11, a PEG ratio of 2.32 and a beta of 1.16. The business’s 50 day simple moving average is $136.81 and its 200 day simple moving average is $145.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.37%. Target’s payout ratio is currently 47.51%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Melius Research started coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.07.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.