Target (TGT) Updates FY20 Earnings Guidance

Target (NYSE:TGT) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.75-6.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.84. Target also updated its FY 2019 guidance to $5.75-6.05 EPS.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Target from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research report on Friday, March 8th. Telsey Advisory Group restated an outperform rating and set a $88.00 price objective (up from $86.00) on shares of Target in a research report on Wednesday, March 6th. Citigroup restated a neutral rating and set a $78.00 price objective on shares of Target in a research report on Tuesday, February 26th. BMO Capital Markets raised their price objective on shares of Target from $70.00 to $78.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. Finally, Sanford C. Bernstein restated a mkt perform rating on shares of Target in a research report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $89.97.

Shares of NYSE TGT opened at $79.40 on Friday. 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 firm has a market capitalization of $37.10 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.97 and a beta of 0.65. Target has a 52-week low of $60.15 and a 52-week high of $90.39.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. Target had a net margin of 3.90% and a return on equity of 25.74%. The company had revenue of $17.63 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the firm posted $1.32 EPS. Target’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Target will post 5.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.22%. Target’s dividend payout ratio (DPR) is presently 47.50%.

In other news, insider Cathy R. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the completion of the sale, the insider now owns 12,836 shares in the company, valued at $1,030,474.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,977 shares of company stock worth $2,774,409. Insiders own 0.19% of the company’s stock.

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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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