Target (NYSE:TGT) Releases FY20 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $5.90-6.20 for the period, compared to the Thomson Reuters consensus estimate of $5.94. Target also updated its FY 2019 guidance to $5.90-6.20 EPS.

Shares of NYSE TGT opened at $103.49 on Friday. The stock has a market capitalization of $52.77 billion, a PE ratio of 19.20, a P/E/G ratio of 2.45 and a beta of 0.61. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.19. The business has a fifty day moving average price of $86.87 and a two-hundred day moving average price of $80.90. Target has a fifty-two week low of $60.15 and a fifty-two week high of $106.52.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The firm had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a return on equity of 27.43% and a net margin of 4.10%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 EPS. On average, equities analysts expect that Target will post 6.08 EPS for the current year.

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

A number of equities analysts have recently commented on the company. Citigroup raised Target from a neutral rating to a buy rating and boosted their price target for the stock from $80.00 to $130.00 in a report on Thursday. Buckingham Research reissued a buy rating and set a $117.00 price target (up previously from $102.00) on shares of Target in a report on Thursday. UBS Group boosted their price target on Target from $86.00 to $103.00 and gave the stock a neutral rating in a report on Thursday. Deutsche Bank raised Target from a hold rating to a buy rating and boosted their price target for the stock from $85.00 to $99.00 in a report on Monday, August 5th. Finally, Guggenheim reissued a hold rating on shares of Target in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Target currently has a consensus rating of Buy and an average price target of $102.37.

In other Target news, insider Stephanie A. Lundquist sold 8,367 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Don H. Liu sold 4,140 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total value 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. Insiders own 0.24% of the company’s stock.

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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