Target (NYSE:TGT) Issues Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.85-2.45 for the period, compared to the consensus earnings per share estimate of $2.15. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Trading Down 1.4 %

NYSE:TGT opened at $134.58 on Thursday. The company has a market cap of $61.67 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a 50 day simple moving average of $137.06 and a two-hundred day simple moving average of $145.39. Target has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. Research analysts forecast that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.33%. Target’s payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and set a $165.00 price target on shares of Target in a research note on Monday, November 25th. StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, November 20th. Finally, Piper Sandler cut their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.57.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.