Analysts expect Target Co. (NYSE:TGT) to announce sales of $18.33 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Target’s earnings. The lowest sales estimate is $18.22 billion and the highest is $18.47 billion. Target reported sales of $17.78 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is scheduled to report its next earnings report on Wednesday, August 28th.
According to Zacks, analysts expect that Target will report full-year sales of $78.11 billion for the current fiscal year, with estimates ranging from $77.60 billion to $78.33 billion. For the next fiscal year, analysts anticipate that the business will post sales of $80.52 billion, with estimates ranging from $79.65 billion to $80.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Target.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion for the quarter, compared to analysts’ expectations of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS.
A number of equities research analysts recently commented on TGT shares. JPMorgan Chase & Co. lowered their price objective on shares of National Grid from GBX 1,000 ($13.07) to GBX 960 ($12.54) and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Bank of America set a $30.00 price objective on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, May 23rd. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. UBS Group cut shares of AGL Energy to a “sell” rating in a research note on Thursday, May 23rd. Finally, Evercore ISI started coverage on shares of Polarityte in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.83.
In related news, insider Michael Edward Mcnamara sold 11,891 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Janna A. Potts sold 8,759 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the sale, the insider now directly owns 27,720 shares in the company, valued at $2,189,880. The disclosure for this sale can be found here. Insiders sold 33,180 shares of company stock worth $2,854,650 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Norges Bank acquired a new stake in shares of Target in the fourth quarter worth approximately $358,987,000. Nordea Investment Management AB raised its holdings in Target by 2,417.6% in the fourth quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock valued at $119,742,000 after buying an additional 1,739,892 shares during the period. Argent Capital Management LLC raised its holdings in Target by 162.2% in the first quarter. Argent Capital Management LLC now owns 1,163,242 shares of the retailer’s stock valued at $93,362,000 after buying an additional 719,655 shares during the period. APG Asset Management N.V. raised its holdings in Target by 13.6% in the fourth quarter. APG Asset Management N.V. now owns 4,360,523 shares of the retailer’s stock valued at $252,099,000 after buying an additional 523,138 shares during the period. Finally, American Century Companies Inc. raised its holdings in Target by 18.8% in the first quarter. American Century Companies Inc. now owns 3,178,060 shares of the retailer’s stock valued at $255,071,000 after buying an additional 502,098 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE TGT traded up $1.06 during trading hours on Friday, reaching $87.53. The company’s stock had a trading volume of 4,488,681 shares, compared to its average volume of 5,084,169. The company has a market cap of $43.98 billion, a PE ratio of 16.24, a PEG ratio of 2.05 and a beta of 0.60. Target has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The business’s 50-day moving average price is $85.82. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is currently 47.50%.
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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