Target (NYSE:TGT) Issues FY 2019 Earnings Guidance

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

NYSE TGT opened at $103.49 on Friday. Target has a 52 week low of $60.15 and a 52 week high of $106.52. The company has a quick ratio of 0.19, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The business’s fifty day simple moving average is $86.87 and its 200-day simple moving average is $80.90. The firm has a market cap of $52.77 billion, a PE ratio of 19.20, a P/E/G ratio of 2.45 and a beta of 0.61.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. The firm had revenue of $18.42 billion for the quarter, compared to analyst estimates of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. Target’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. Research analysts expect that Target will post 6.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.66 dividend. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s payout ratio is 48.98%.

Several brokerages recently issued reports on TGT. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a buy rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. set a $115.00 price objective on shares of Target and gave the company a buy rating in a report on Wednesday. Robert W. Baird set a $115.00 price objective on shares of Target and gave the company a buy rating in a report on Wednesday. Sanford C. Bernstein restated a mkt perform rating on shares of Target in a report on Friday, May 3rd. Finally, Deutsche Bank upgraded shares of Target from a hold rating to a buy rating and boosted their price objective for the company from $85.00 to $99.00 in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $102.37.

In other news, Director Roxanne S. Austin sold 4,163 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Don H. Liu sold 4,140 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total value of $413,668.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,561 shares of company stock valued at $2,576,357. 0.24% of the stock is currently owned by corporate 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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