Target (NYSE:TGT) Updates FY 2019 Pre-Market Earnings Guidance

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Target (NYSE:TGT) updated its FY 2019
Pre-Market earnings guidance on Wednesday. The company provided earnings per share guidance of 6.25-6.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.39. Target also updated its Q4 2019
Pre-Market guidance to 1.54-1.74 EPS.

A number of brokerages have commented on TGT. Bank of America upped their price target on Target from $125.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, November 21st. Telsey Advisory Group lifted their price objective on Target from $120.00 to $137.00 and gave the company an outperform rating in a research report on Thursday, November 21st. Buckingham Research reiterated a buy rating and set a $145.00 price objective (up from $131.00) on shares of Target in a research note on Thursday, November 21st. ValuEngine lowered shares of Target from a hold rating to a sell rating in a report on Friday, January 3rd. Finally, Evercore ISI initiated coverage on shares of Target in a research note on Wednesday, November 20th. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $117.19.

NYSE TGT opened at $125.26 on Wednesday. Target has a 12 month low of $67.17 and a 12 month high of $130.24. The company has a current ratio of 0.83, a quick ratio of 0.15 and a debt-to-equity ratio of 1.10. The stock has a market cap of $63.21 billion, a PE ratio of 23.24, a P/E/G ratio of 2.59 and a beta of 0.56. The stock’s 50 day moving average is $126.36 and its 200 day moving average is $107.40.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.17. The business had revenue of $18.41 billion during the quarter, compared to analyst estimates of $18.45 billion. Target had a net margin of 4.18% and a return on equity of 28.22%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. On average, analysts forecast that Target will post 6.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.11%. Target’s dividend payout ratio is 48.98%.

Target declared that its board has authorized a stock buyback plan on Thursday, September 19th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the retailer to purchase up to 9.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In other Target news, insider Don H. Liu sold 2,274 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $122.20, for a total transaction of $277,882.80. Following the completion of the transaction, the insider now owns 37,616 shares in the company, valued at approximately $4,596,675.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie A. Lundquist sold 6,630 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $127.00, for a total value of $842,010.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About Target

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.

Further Reading: Using other technical indicators with support levels

Earnings History and Estimates for Target (NYSE:TGT)

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