Zacks: Analysts Expect Target Co. (TGT) Will Announce Quarterly Sales of $17.75 Billion

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Wall Street brokerages forecast that Target Co. (NYSE:TGT) will post $17.75 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Target’s earnings, with the highest sales estimate coming in at $17.86 billion and the lowest estimate coming in at $17.67 billion. Target reported sales of $16.67 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The business is expected to announce its next quarterly earnings results on Wednesday, November 21st.

On average, analysts expect that Target will report full-year sales of $75.13 billion for the current financial year, with estimates ranging from $73.80 billion to $75.83 billion. For the next financial year, analysts anticipate that the business will report sales of $77.09 billion, with estimates ranging from $75.66 billion to $77.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Target.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.07. The firm had revenue of $17.78 billion during the quarter, compared to analyst estimates of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share.

A number of analysts have recently issued reports on TGT shares. Robert W. Baird boosted their target price on shares of Target from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. Wolfe Research lowered shares of Target from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. Bank of America set a $90.00 price objective on shares of Target and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Citigroup upped their price objective on shares of Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, August 27th. Finally, Credit Suisse Group set a $86.00 price objective on shares of Target and gave the stock a “hold” rating in a research note on Saturday, August 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $87.68.

In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of the stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Janna A. Potts sold 15,172 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of Target by 3.0% during the third quarter. Bank of Montreal Can now owns 1,424,112 shares of the retailer’s stock valued at $125,620,000 after acquiring an additional 41,788 shares in the last quarter. Busey Trust CO increased its holdings in shares of Target by 1.2% during the third quarter. Busey Trust CO now owns 112,976 shares of the retailer’s stock valued at $9,966,000 after acquiring an additional 1,369 shares in the last quarter. Courier Capital LLC increased its holdings in shares of Target by 29.3% during the third quarter. Courier Capital LLC now owns 8,440 shares of the retailer’s stock valued at $744,000 after acquiring an additional 1,915 shares in the last quarter. BLB&B Advisors LLC increased its holdings in shares of Target by 8.7% during the third quarter. BLB&B Advisors LLC now owns 52,200 shares of the retailer’s stock valued at $4,605,000 after acquiring an additional 4,171 shares in the last quarter. Finally, Swedbank acquired a new position in shares of Target during the third quarter valued at about $198,324,000. 83.52% of the stock is owned by institutional investors and hedge funds.

Shares of TGT traded up $1.81 during trading hours on Friday, reaching $84.61. 5,123,277 shares of the company traded hands, compared to its average volume of 5,359,514. The firm has a market capitalization of $46.43 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.44 and a beta of 0.70. Target has a 12-month low of $54.04 and a 12-month high of $90.39. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 1.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is presently 54.35%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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