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

Target (NYSE:TGT) issued an update on its FY 2019
Pre-Market earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.25-6.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.39. Target also updated its Q4 guidance to ~$1.54-1.74 EPS.

Target stock traded down $0.58 during mid-day trading on Thursday, reaching $116.42. 3,707,033 shares of the company’s stock were exchanged, compared to its average volume of 3,548,540. The company has a market cap of $63.47 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.60 and a beta of 0.56. Target has a twelve month low of $67.17 and a twelve month high of $130.24. The company has a quick ratio of 0.15, a current ratio of 0.83 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average of $126.16 and a 200-day moving average of $107.55.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. Equities research analysts expect that Target will post 6.38 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.64 dividend on an annualized basis and a yield of 2.27%. Target’s dividend payout ratio (DPR) is presently 48.98%.

Target announced that its board has initiated a share buyback program on Thursday, September 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the retailer to purchase up to 9.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

A number of equities research analysts have issued reports on TGT shares. KeyCorp reiterated a buy rating and set a $140.00 target price (up from $130.00) on shares of Target in a report on Thursday, November 21st. Guggenheim reiterated a hold rating on shares of Target in a report on Wednesday. Raymond James started coverage on shares of Target in a report on Monday, October 7th. They set a strong-buy rating and a $130.00 target price on the stock. Credit Suisse Group set a $112.00 target price on shares of Target and gave the stock a buy rating in a report on Monday, September 23rd. Finally, Bank of America increased their target price on shares of Target from $125.00 to $150.00 and gave the stock a buy rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Target has an average rating of Buy and a consensus target price of $117.19.

In related news, insider Stephanie A. Lundquist sold 6,630 shares of the stock in a transaction 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 stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $122.20, for a total transaction of $277,882.80. Following the completion of the transaction, the insider now directly owns 37,616 shares in the company, valued at $4,596,675.20. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Target Company Profile

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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