Target (TGT) Updates FY19 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.30-5.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.42. Target also updated its FY 2018 guidance to $5.30-5.50 EPS.

Shares of TGT traded down $7.42 during trading hours on Tuesday, hitting $70.37. The stock had a trading volume of 517,765 shares, compared to its average volume of 5,130,371. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.17 and a current ratio of 0.82. Target has a 52 week low of $55.25 and a 52 week high of $90.39. The firm has a market cap of $41.94 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.19 and a beta of 0.73.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). Target had a return on equity of 24.29% and a net margin of 4.19%. The company had revenue of $17.59 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target will post 5.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio is currently 54.35%.

A number of equities research analysts have commented on TGT shares. Loop Capital set a $102.00 price objective on shares of Target and gave the stock a hold rating in a report on Friday, August 17th. KeyCorp started coverage on shares of Target in a report on Friday. They set an overweight rating and a $110.00 price objective on the stock. UBS Group increased their price objective on shares of Target from $76.00 to $85.00 and gave the stock a neutral rating in a report on Friday, August 17th. Guggenheim reissued a hold rating on shares of Target in a report on Wednesday, August 22nd. Finally, Zacks Investment Research raised shares of Target from a hold rating to a buy rating and set a $91.00 price objective on the stock in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Target presently has an average rating of Hold and an average target price of $90.38.

In related news, insider Janna A. Potts sold 15,172 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 2,100 shares of the stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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About Target

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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Earnings History and Estimates for Target (NYSE:TGT)

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