Target (NYSE:TGT) Releases Q4 2019 Pre-Market Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2019
Pre-Market earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.54-1.74 for the period, compared to the Thomson Reuters consensus estimate of $1.70. Target also updated its FY 2019
Pre-Market guidance to 6.25-6.45 EPS.

Shares of NYSE TGT opened at $125.26 on Wednesday. The stock has a market cap of $63.21 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.59 and a beta of 0.56. The firm has a 50 day moving average price of $126.36 and a 200 day moving average price of $107.40. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.15 and a current ratio of 0.83. Target has a 52-week low of $67.17 and a 52-week high of $130.24.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.17. The company had revenue of $18.41 billion for the quarter, compared to analyst estimates of $18.45 billion. Target had a net margin of 4.18% and a return on equity of 28.22%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. Analysts predict that Target will post 6.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, February 18th. Target’s dividend payout ratio (DPR) is 48.98%.

Target announced that its board has approved a share buyback plan on Thursday, September 19th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the retailer to buy up to 9.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several research analysts have weighed in on TGT shares. Evercore ISI initiated coverage on Target in a report on Wednesday, November 20th. They set a hold rating on the stock. Raymond James initiated coverage on Target in a report on Monday, October 7th. They issued a strong-buy rating and a $130.00 price target for the company. ValuEngine downgraded Target from a hold rating to a sell rating in a report on Friday, January 3rd. KeyCorp reaffirmed a buy rating and set a $140.00 price target (up previously from $130.00) on shares of Target in a research report on Thursday, November 21st. Finally, Bank of America lifted their price objective on Target from $125.00 to $150.00 and gave the company a buy rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $117.19.

In other news, insider Stephanie A. Lundquist sold 6,630 shares of Target stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $127.00, for a total value of $842,010.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Don H. Liu sold 2,274 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total transaction of $277,882.80. Following the completion of the sale, the insider now directly owns 37,616 shares in the company, valued at approximately $4,596,675.20. The disclosure for this sale can be found here. 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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