Target (TGT) to Release Quarterly Earnings on Wednesday

Target (NYSE:TGT) will announce its earnings results before the market opens on Wednesday, May 19th. Analysts expect the company to announce earnings of $2.07 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Target (NYSE:TGT) last released its earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.13. The business had revenue of $28 billion for the quarter, compared to analyst estimates of $27.42 billion. Target had a return on equity of 34.94% and a net margin of 4.31%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 earnings per share. On average, analysts expect Target to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

NYSE:TGT opened at $210.02 on Tuesday. The firm has a market cap of $104.50 billion, a P/E ratio of 27.82, a PEG ratio of 2.64 and a beta of 0.97. The company has a current ratio of 1.05, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The stock’s 50 day simple moving average is $206.61 and its 200-day simple moving average is $186.29. Target has a 12-month low of $114.23 and a 12-month high of $217.39.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, May 18th. Target’s payout ratio is currently 42.57%.

In other Target news, CAO Robert M. Harrison sold 2,353 shares of the business’s stock in a transaction that occurred on Thursday, April 8th. The shares were sold at an average price of $203.61, for a total transaction of $479,094.33. Following the completion of the sale, the chief accounting officer now directly owns 10,395 shares in the company, valued at $2,116,525.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Edward Mcnamara sold 31,423 shares of the business’s stock in a transaction that occurred on Tuesday, April 13th. The stock was sold at an average price of $204.32, for a total transaction of $6,420,347.36. Following the sale, the insider now owns 139,768 shares of the company’s stock, valued at $28,557,397.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,510 shares of company stock valued at $8,002,521. 0.52% of the stock is owned by insiders.

An institutional investor recently bought a new position in Target stock. OLD Mission Capital LLC acquired a new position in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,268 shares of the retailer’s stock, valued at approximately $200,000. 79.17% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. DA Davidson dropped their target price on Target from $229.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, March 9th. Morgan Stanley upped their price objective on Target from $195.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 12th. Jefferies Financial Group dropped their price objective on Target from $205.00 to $188.00 and set a “hold” rating on the stock in a report on Tuesday, March 9th. Robert W. Baird dropped their price objective on Target from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, March 9th. Finally, JPMorgan Chase & Co. upped their price objective on Target from $230.00 to $233.00 and gave the stock an “overweight” rating in a report on Thursday, May 13th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $188.00.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Earnings History for Target (NYSE:TGT)

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