Target (TGT) to Release Earnings on Wednesday

Target (NYSE:TGT) is set to issue its quarterly earnings data before the market opens on Wednesday, November 20th. Analysts expect the company to announce earnings of $2.28 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 EPS. On average, analysts expect Target to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Target Stock Up 1.6 %

Shares of NYSE:TGT opened at $155.72 on Wednesday. Target has a 1-year low of $107.13 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market cap of $71.74 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.93 and a beta of 1.24. The firm has a fifty day moving average price of $152.38 and a 200 day moving average price of $150.55.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TGT shares. Royal Bank of Canada increased their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Jefferies Financial Group lifted their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Monday, August 26th. TD Cowen lifted their target price on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.47.

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.