Target (NYSE:TGT) Updates Q3 Earnings Guidance

Target (NYSE:TGT) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.04-1.24 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.17. Target also updated its FY 2019 guidance to $5.90-6.20 EPS.

TGT opened at $103.49 on Friday. The firm has a market capitalization of $52.77 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.45 and a beta of 0.61. The firm’s 50 day moving average is $86.87 and its 200-day moving average is $80.90. Target has a 52-week low of $60.15 and a 52-week high of $106.52. The company has a quick ratio of 0.19, a current ratio of 0.84 and a debt-to-equity ratio of 1.05.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The business had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Equities analysts expect that Target will post 6.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Tuesday, August 20th. This is a positive change from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is 48.98%.

A number of analysts recently issued reports on TGT shares. Robert W. Baird set a $115.00 price target on shares of Target and gave the stock a buy rating in a research note on Wednesday. Bank of America lifted their price target on shares of Target from $105.00 to $125.00 and gave the stock a buy rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Target from $76.00 to $107.00 and gave the stock an equal weight rating in a research note on Thursday. Wells Fargo & Co upgraded shares of Target from a market perform rating to an outperform rating and set a $115.00 price target for the company in a research note on Wednesday. Finally, Buckingham Research restated a buy rating and issued a $117.00 price target (up previously from $102.00) on shares of Target in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $102.37.

In other news, insider Stephanie A. Lundquist sold 8,367 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total transaction of $736,379.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Don H. Liu sold 4,140 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,561 shares of company stock valued at $2,576,357. 0.24% of the stock is currently owned by corporate insiders.

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.

See Also: Different Options Trading Strategies

Earnings History and Estimates for Target (NYSE:TGT)

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.