Target (NYSE:TGT) Issues Earnings Results

Target (NYSE:TGT) posted its earnings results on Wednesday. The retailer reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.19, MarketWatch Earnings reports. The firm had revenue of $19.37 billion during the quarter, compared to analysts’ expectations of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share.

Shares of Target stock opened at $117.49 on Friday. The firm has a market capitalization of $59.32 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.27. The company’s fifty day moving average price is $109.72 and its two-hundred day moving average price is $114.20. Target has a 52-week low of $76.86 and a 52-week high of $130.24.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is presently 41.31%.

TGT has been the subject of a number of analyst reports. Telsey Advisory Group reiterated an “outperform” rating on shares of Target in a research note on Wednesday, February 26th. BMO Capital Markets reissued a “buy” rating and issued a $125.00 price target on shares of Target in a research report on Wednesday. Goldman Sachs Group raised shares of Target from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, March 4th. Deutsche Bank lifted their price target on shares of Target from $121.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays reissued a “buy” rating and issued a $120.00 price target on shares of Target in a research report on Tuesday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Target presently has a consensus rating of “Buy” and an average price target of $128.21.

In other Target news, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the sale, the insider now owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert M. Harrison sold 464 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total transaction of $49,958.88. The disclosure for this sale can be found here. Insiders sold a total of 111,095 shares of company stock worth $13,314,321 in the last three months. Insiders own 0.24% of the company’s stock.

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Earnings History for Target (NYSE:TGT)

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