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.
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.
WARNING: “Target (TGT) Issues Q2 2019 Earnings Guidance” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/05/22/target-tgt-issues-q2-2019-earnings-guidance.html.
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.
Featured Story: What is Liquidity?
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.