Target (TGT) Issues Q2 2019 Earnings Guidance

Target (NYSE:TGT) issued an update on its second quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.52-1.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.59. Target also updated its FY 2019 guidance to $5.75-6.05 EPS.

NYSE:TGT opened at $77.31 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.20 and a current ratio of 0.83. The company has a market capitalization of $36.93 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65. Target has a 12-month low of $60.15 and a 12-month high of $90.39.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 earnings per share. Equities research analysts predict that Target will post 5.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $0.64 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 annualized dividend and a yield of 3.31%. Target’s dividend payout ratio is 47.50%.

Several analysts have issued reports on TGT shares. Gordon Haskett upgraded Target from an accumulate rating to a buy rating in a research note on Thursday, March 21st. Zacks Investment Research upgraded Target from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research note on Friday, March 8th. Morgan Stanley upgraded Target from an underweight rating to an equal weight rating and set a $67.00 target price on the stock in a research note on Monday. Deutsche Bank increased their target price on Target from $80.00 to $84.00 and gave the stock a hold rating in a research note on Wednesday, March 6th. Finally, Evercore ISI assumed coverage on Target in a research note on Wednesday, March 20th. They set an in-line rating and a $80.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $88.61.

In related news, insider Robert M. Harrison sold 1,791 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathy R. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $74.00, for a total value of $2,220,000.00. The disclosure for this sale can be found here. Insiders have sold 36,977 shares of company stock worth $2,774,409 in the last three months. 0.19% of the stock is currently owned by company insiders.

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Target Company Profile

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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Earnings History and Estimates for Target (NYSE:TGT)

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