Target (NYSE:TGT) Updates FY 2019 Earnings Guidance

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Target (NYSE:TGT) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.90-6.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.93. Target also updated its FY20 guidance to $5.90-6.20 EPS.

Several research firms have commented on TGT. Citigroup raised shares of Target from a neutral rating to a buy rating and increased their price target for the company from $80.00 to $130.00 in a research report on Thursday. JPMorgan Chase & Co. set a $115.00 price target on shares of Target and gave the company a buy rating in a research report on Wednesday. Deutsche Bank raised shares of Target from a hold rating to a buy rating and increased their price objective for the company from $85.00 to $99.00 in a research report on Monday, August 5th. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a buy rating in a research report on Thursday, May 23rd. Finally, Bank of America increased their price objective on shares of Target from $105.00 to $125.00 and gave the company a buy rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $102.37.

TGT opened at $103.49 on Friday. Target has a 12-month low of $60.15 and a 12-month high of $106.52. The company has a current ratio of 0.84, a quick ratio of 0.19 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $52.77 billion, a PE ratio of 19.20, a P/E/G ratio of 2.45 and a beta of 0.61. The firm has a 50 day moving average of $86.87 and a two-hundred day moving average of $80.90.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The company had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. During the same period last year, the firm posted $1.47 EPS. Target’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts predict that Target will post 6.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.66 per share. The ex-dividend date is Tuesday, August 20th. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 2.55%. Target’s dividend payout ratio (DPR) is currently 48.98%.

In other news, insider Michael Edward Mcnamara sold 11,891 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Don H. Liu sold 4,140 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 28,561 shares of company stock valued at $2,576,357 over the last three months. 0.24% of the stock is currently owned by 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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