Zacks: Analysts Anticipate Target Co. (NYSE:TGT) Will Announce Quarterly Sales of $19.30 Billion

Wall Street analysts expect that Target Co. (NYSE:TGT) will announce sales of $19.30 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Target’s earnings. The lowest sales estimate is $19.00 billion and the highest is $19.54 billion. Target posted sales of $18.42 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is scheduled to issue its next earnings report on Wednesday, August 19th.

On average, analysts expect that Target will report full-year sales of $81.38 billion for the current fiscal year, with estimates ranging from $78.75 billion to $82.80 billion. For the next financial year, analysts anticipate that the company will post sales of $83.14 billion, with estimates ranging from $81.49 billion to $85.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Target.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. The firm had revenue of $19.37 billion during the quarter, compared to analyst estimates of $19.04 billion. Target had a return on equity of 24.17% and a net margin of 3.46%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS.

Several equities research analysts have recently weighed in on TGT shares. Cowen reissued a “buy” rating and set a $150.00 price objective on shares of Target in a research note on Wednesday, April 8th. Nomura reduced their price objective on Target from $131.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Deutsche Bank raised their price objective on Target from $121.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays reissued a “buy” rating and set a $120.00 price objective on shares of Target in a research note on Tuesday, March 17th. Finally, Nomura Instinet raised their price objective on Target from $121.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $128.21.

Shares of TGT traded down $1.19 during trading hours on Wednesday, hitting $117.49. 4,835,356 shares of the company were exchanged, compared to its average volume of 5,780,963. The company has a market capitalization of $59.32 billion, a PE ratio of 21.76, a PEG 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 firm has a fifty day simple moving average of $109.72 and a 200-day simple moving average of $114.20. Target has a one year low of $76.86 and a one year high of $130.24.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.66 per share. The ex-dividend date is Tuesday, May 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.25%. Target’s dividend payout ratio is 41.31%.

In related news, CAO Robert M. Harrison sold 464 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total transaction of $49,958.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 110,000 shares of the stock in a transaction on Monday, May 11th. The stock was 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 $25,020,240. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,095 shares of company stock valued at $13,314,321. 0.24% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mainstay Capital Management LLC ADV grew its position in shares of Target by 4.1% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 20,065 shares of the retailer’s stock valued at $2,573,000 after purchasing an additional 785 shares during the last quarter. Valicenti Advisory Services Inc. grew its position in shares of Target by 5.1% in the fourth quarter. Valicenti Advisory Services Inc. now owns 5,177 shares of the retailer’s stock valued at $664,000 after purchasing an additional 252 shares during the last quarter. Squar Milner Financial Services LLC grew its position in shares of Target by 2.9% in the fourth quarter. Squar Milner Financial Services LLC now owns 4,365 shares of the retailer’s stock valued at $559,000 after purchasing an additional 122 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Target by 12.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 291,653 shares of the retailer’s stock valued at $37,393,000 after purchasing an additional 31,557 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in shares of Target by 9.9% in the fourth quarter. Wealthfront Advisers LLC now owns 44,013 shares of the retailer’s stock valued at $5,643,000 after purchasing an additional 3,975 shares during the last quarter. Institutional investors own 80.49% 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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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