Target (TGT) Issues Q2 Earnings Guidance

Target (NYSE:TGT) issued an update on its second quarter 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 $71.96 on Wednesday. The firm has a market capitalization of $36.93 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.94 and a beta of 0.65. Target has a 1 year low of $60.15 and a 1 year high of $90.39. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The company had revenue of $17.63 billion for the quarter, compared to analysts’ expectations of $17.49 billion. Target had a return on equity of 25.74% and a net margin of 3.90%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. As a group, analysts anticipate that Target will post 5.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.56%. Target’s dividend payout ratio is currently 47.50%.

Several research analysts have issued reports on TGT shares. Citigroup reaffirmed a neutral rating and issued a $78.00 price target on shares of Target in a report on Tuesday, February 26th. Telsey Advisory Group reissued an outperform rating and set a $88.00 target price (up from $86.00) on shares of Target in a research note on Wednesday, March 6th. BMO Capital Markets boosted their target price on shares of Target from $70.00 to $78.00 and gave the company a market perform rating in a research note on Wednesday, March 6th. Deutsche Bank boosted their target price on shares of Target from $80.00 to $84.00 and gave the company a hold rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research raised shares of Target from a hold rating to a buy rating and set a $86.00 target price on the stock in a research note on Friday, March 8th. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $88.61.

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

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About Target

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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