Wall Street analysts expect that Target Co. (NYSE:TGT – Get Rating) will post earnings of $3.00 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Target’s earnings, with the highest EPS estimate coming in at $3.39 and the lowest estimate coming in at $2.55. Target posted earnings per share of $3.69 in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.7%. The business is scheduled to issue its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Target will report full-year earnings of $14.60 per share for the current financial year, with EPS estimates ranging from $14.20 to $15.10. For the next financial year, analysts forecast that the company will post earnings of $15.95 per share, with EPS estimates ranging from $15.25 to $16.81. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Target.
Target (NYSE:TGT – Get Rating) last released its earnings results on Tuesday, March 1st. The retailer reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.33. Target had a net margin of 6.55% and a return on equity of 47.35%. The company had revenue of $31 billion during the quarter, compared to analyst estimates of $31.40 billion. During the same period in the prior year, the firm posted $2.67 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year.
TGT traded up $2.46 during trading on Friday, reaching $219.73. 3,146,691 shares of the company traded hands, compared to its average volume of 3,295,687. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.35 and a current ratio of 0.99. Target has a 12-month low of $184.00 and a 12-month high of $268.98. The firm has a fifty day simple moving average of $225.36 and a 200 day simple moving average of $228.65. The company has a market cap of $101.88 billion, a P/E ratio of 15.62, a PEG ratio of 0.89 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, May 17th. Target’s dividend payout ratio is presently 25.59%.
In related news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total transaction of $6,490,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cara A. Sylvester sold 2,030 shares of the stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total value of $507,500.00. Following the transaction, the insider now directly owns 7,891 shares in the company, valued at approximately $1,972,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,363 shares of company stock valued at $21,970,253. Company insiders own 0.29% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TGT. OLD Mission Capital LLC acquired a new position in Target during the 3rd quarter worth about $200,000. Morgan Stanley raised its position in Target by 10.7% in the 2nd quarter. Morgan Stanley now owns 3,164,273 shares of the retailer’s stock valued at $764,931,000 after purchasing an additional 305,955 shares in the last quarter. Moors & Cabot Inc. raised its position in Target by 111.0% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the retailer’s stock valued at $25,000 after purchasing an additional 13,149 shares in the last quarter. Mackenzie Financial Corp raised its position in Target by 9.0% in the 3rd quarter. Mackenzie Financial Corp now owns 311,040 shares of the retailer’s stock valued at $71,157,000 after purchasing an additional 25,594 shares in the last quarter. Finally, Summit Financial LLC raised its position in Target by 18.4% in the 3rd quarter. Summit Financial LLC now owns 1,792 shares of the retailer’s stock valued at $410,000 after purchasing an additional 279 shares in the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
About Target (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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