Brokerages Expect Target Co. (TGT) Will Announce Quarterly Sales of $17.75 Billion

Wall Street brokerages expect Target Co. (NYSE:TGT) to report sales of $17.75 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Target’s earnings, with estimates ranging from $17.67 billion to $17.86 billion. Target posted sales of $16.67 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, November 20th.

On average, analysts expect that Target will report full-year sales of $75.13 billion for the current year, with estimates ranging from $73.80 billion to $75.83 billion. For the next financial year, analysts expect that the company will post sales of $77.09 billion, with estimates ranging from $75.66 billion to $77.88 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Target.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The business had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $17.33 billion. Target had a return on equity of 24.29% and a net margin of 4.19%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS.



Several equities analysts recently commented on the company. MKM Partners set a $91.00 price objective on Target and gave the company a “buy” rating in a research note on Friday, June 29th. Wolfe Research downgraded Target from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. Loop Capital set a $102.00 price objective on Target and gave the company a “hold” rating in a research note on Friday, August 17th. Telsey Advisory Group upgraded Target from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $100.00 in a research note on Thursday, August 23rd. Finally, Citigroup upped their price objective on Target from $76.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Target presently has an average rating of “Hold” and an average price target of $87.68.

TGT traded down $1.32 during midday trading on Tuesday, reaching $82.51. 238,263 shares of the company were exchanged, compared to its average volume of 5,311,180. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.17 and a current ratio of 0.82. The firm has a market capitalization of $43.81 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.30 and a beta of 0.70. Target has a one year low of $54.04 and a one year high of $90.39.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.10%. Target’s dividend payout ratio (DPR) is currently 54.35%.

In other news, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $88.00, for a total transaction of $1,335,136.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total value of $180,600.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Dearborn Partners LLC grew its stake in shares of Target by 9.7% during the third quarter. Dearborn Partners LLC now owns 6,784 shares of the retailer’s stock valued at $598,000 after buying an additional 600 shares during the last quarter. NewSquare Capital LLC grew its stake in shares of Target by 2.6% in the third quarter. NewSquare Capital LLC now owns 25,031 shares of the retailer’s stock worth $2,208,000 after purchasing an additional 632 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Target by 3.5% in the second quarter. Trust Co. of Vermont now owns 19,236 shares of the retailer’s stock worth $1,464,000 after purchasing an additional 647 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Target by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 15,551 shares of the retailer’s stock worth $1,184,000 after purchasing an additional 671 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Target by 3.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 19,523 shares of the retailer’s stock worth $1,486,000 after purchasing an additional 681 shares during the last quarter. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

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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