Zacks: Brokerages Expect Target Co. (NYSE:TGT) Will Post Quarterly Sales of $27.51 Billion

Wall Street analysts expect Target Co. (NYSE:TGT) to post $27.51 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Target’s earnings. The highest sales estimate is $27.86 billion and the lowest is $27.04 billion. Target reported sales of $23.40 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.6%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, March 2nd.

According to Zacks, analysts expect that Target will report full year sales of $92.78 billion for the current financial year, with estimates ranging from $92.26 billion to $93.09 billion. For the next financial year, analysts anticipate that the firm will post sales of $90.13 billion, with estimates ranging from $86.54 billion to $92.89 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Target.

Several equities analysts recently weighed in on the stock. Telsey Advisory Group raised their target price on shares of Target from $190.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 14th. Argus raised shares of Target from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, November 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Target from $194.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Raymond James lifted their price objective on shares of Target from $180.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 19th. Finally, MKM Partners raised shares of Target from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $127.00 to $156.00 in a research report on Thursday, November 19th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $165.29.

Shares of NYSE:TGT traded down $3.08 during midday trading on Thursday, hitting $185.91. The stock had a trading volume of 135,099 shares, compared to its average volume of 3,570,193. Target has a 12 month low of $90.17 and a 12 month high of $199.96. The company has a quick ratio of 0.39, a current ratio of 1.05 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $189.95 and its 200-day simple moving average is $167.31. The company has a market cap of $93.10 billion, a P/E ratio of 24.62, a PEG ratio of 2.64 and a beta of 0.97.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, February 16th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.46%. Target’s payout ratio is presently 42.57%.

In related news, insider Stephanie A. Lundquist sold 16,894 shares of the business’s stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $198.34, for a total value of $3,350,755.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Target by 7.1% in the fourth quarter. BlackRock Inc. now owns 37,134,621 shares of the retailer’s stock valued at $6,555,375,000 after purchasing an additional 2,462,178 shares in the last quarter. FMR LLC raised its stake in Target by 23.6% in the fourth quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock valued at $969,830,000 after purchasing an additional 1,049,440 shares in the last quarter. D1 Capital Partners L.P. raised its stake in Target by 55.8% in the fourth quarter. D1 Capital Partners L.P. now owns 3,595,477 shares of the retailer’s stock valued at $634,710,000 after purchasing an additional 1,288,000 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Target by 2.3% during the third quarter. UBS Asset Management Americas Inc. now owns 2,986,521 shares of the retailer’s stock worth $470,138,000 after acquiring an additional 68,502 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Target by 3.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,615,294 shares of the retailer’s stock worth $461,663,000 after acquiring an additional 87,053 shares in the last quarter. 79.17% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

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Earnings History and Estimates for Target (NYSE:TGT)

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