Analysts Expect Target Co. (TGT) Will Post Quarterly Sales of $16.43 Billion

Brokerages expect Target Co. (NYSE:TGT) to announce sales of $16.43 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Target’s earnings, with the lowest sales estimate coming in at $16.26 billion and the highest estimate coming in at $16.57 billion. Target reported sales of $16.02 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is expected to issue its next quarterly earnings results on Wednesday, May 16th.

According to Zacks, analysts expect that Target will report full-year sales of $72.20 billion for the current financial year, with estimates ranging from $70.92 billion to $72.76 billion. For the next financial year, analysts anticipate that the company will post sales of $73.63 billion per share, with estimates ranging from $72.08 billion to $74.49 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Target.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion during the quarter, compared to analysts’ expectations of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 earnings per share.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 target price on shares of Target in a research report on Wednesday, January 3rd. Vetr raised shares of Target from a “hold” rating to a “buy” rating and set a $75.42 target price on the stock in a research report on Tuesday, March 6th. Telsey Advisory Group reduced their target price on shares of Target from $83.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 7th. Finally, ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Target has a consensus rating of “Hold” and a consensus target price of $74.37.

In other Target news, insider John J. Mulligan sold 118,373 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the transaction, the insider now owns 195,906 shares in the company, valued at approximately $13,589,999.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the transaction, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of TGT. Oppenheimer Asset Management Inc. lifted its stake in Target by 15.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,020 shares of the retailer’s stock valued at $591,000 after acquiring an additional 1,328 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Target by 19.1% in the 3rd quarter. Janus Henderson Group PLC now owns 269,458 shares of the retailer’s stock worth $15,898,000 after purchasing an additional 43,151 shares during the period. GSA Capital Partners LLP bought a new position in shares of Target in the 3rd quarter worth approximately $640,000. Public Employees Retirement System of Ohio lifted its stake in shares of Target by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 382,859 shares of the retailer’s stock worth $22,593,000 after purchasing an additional 1,455 shares during the period. Finally, Pensionfund DSM Netherlands bought a new position in shares of Target in the 4th quarter worth approximately $3,719,000. Institutional investors and hedge funds own 87.02% of the company’s stock.

Shares of NYSE:TGT traded down $0.66 during midday trading on Monday, reaching $70.32. The company’s stock had a trading volume of 4,110,014 shares, compared to its average volume of 4,662,027. The company has a market capitalization of $38,582.79, a PE ratio of 14.93, a P/E/G ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. Target has a 12-month low of $48.56 and a 12-month high of $78.70.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.53%. Target’s dividend payout ratio (DPR) is 52.65%.

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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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Earnings History and Estimates for Target (NYSE:TGT)

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