Target (NYSE:TGT) Releases FY 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 8.300-8.900 for the period, compared to the consensus earnings per share estimate of 8.590. The company issued revenue guidance of -. Target also updated its Q4 guidance to $1.85-2.45 EPS.

Target Trading Down 3.4 %

TGT opened at $129.95 on Thursday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $59.54 billion, a P/E ratio of 13.78, a P/E/G ratio of 2.32 and a beta of 1.16. Target has a 52 week low of $120.21 and a 52 week high of $181.86. The business has a fifty day simple moving average of $137.06 and a 200-day simple moving average of $145.39.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.45%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent research reports. Evercore ISI cut their price target on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday, November 21st. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a report on Wednesday, November 20th. Sanford C. Bernstein assumed coverage on shares of Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and decreased their price target for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.