Target (NYSE:TGT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.30-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.36. Target also updated its FY19 guidance to $5.15-5.45 EPS.
Shares of Target stock opened at $71.81 on Wednesday. The firm has a market capitalization of $41.20 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.71. Target has a 12 month low of $48.56 and a 12 month high of $78.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.06). The firm had revenue of $16.78 billion during the quarter, compared to analyst estimates of $16.58 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. equities research analysts expect that Target will post 5.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $2.48 annualized dividend and a yield of 3.45%. Target’s dividend payout ratio is currently 52.65%.
Several equities analysts have issued reports on the stock. Vetr cut shares of Target from a hold rating to a sell rating and set a $73.66 price objective on the stock. in a research note on Tuesday, February 27th. Citigroup reissued a neutral rating and issued a $80.00 price objective (down from $86.00) on shares of Target in a research note on Friday, February 16th. Zacks Investment Research raised shares of Target from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research note on Tuesday. Credit Suisse Group assumed coverage on shares of Target in a research note on Monday, February 26th. They issued an outperform rating and a $86.00 price objective on the stock. Finally, MKM Partners set a $93.00 price objective on shares of Target and gave the company a buy rating in a research note on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $74.26.
In related news, insider Don H. Liu sold 2,735 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total value of $205,125.00. Following the sale, the insider now directly owns 62,210 shares in the company, valued at approximately $4,665,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Mulligan sold 118,373 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the completion of the sale, the insider now owns 195,906 shares in the company, valued at $13,589,999.22. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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