Target (TGT) Releases Q2 2019 Earnings Guidance

Target (NYSE:TGT) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.52-1.72 for the period, compared to the Thomson Reuters consensus estimate of $1.59. Target also updated its FY 2019 guidance to $5.75-6.05 EPS.

A number of equities research analysts have recently weighed in on TGT shares. Zacks Investment Research upgraded shares of Target from a hold rating to a buy rating and set a $86.00 price target for the company in a research report on Friday, March 8th. Telsey Advisory Group reiterated an outperform rating and issued a $88.00 price target (up from $86.00) on shares of Target in a research report on Wednesday, March 6th. Citigroup reiterated a neutral rating and issued a $78.00 price target on shares of Target in a research report on Tuesday, February 26th. BMO Capital Markets lifted their price target on shares of Target from $70.00 to $78.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. Finally, Sanford C. Bernstein reiterated a mkt perform rating on shares of Target in a research report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $89.97.

Shares of NYSE:TGT opened at $79.40 on Friday. The company has a market capitalization of $37.10 billion, a P/E ratio of 14.73, a PEG ratio of 1.97 and a beta of 0.65. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08. Target has a 1 year low of $60.15 and a 1 year high of $90.39.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.10. The business had revenue of $17.63 billion for the quarter, compared to analysts’ expectations of $17.49 billion. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. As a group, equities analysts predict that Target will post 5.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.22%. Target’s dividend payout ratio (DPR) is 47.50%.

In other Target news, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total transaction of $410,627.48. Following the sale, the insider now directly owns 77,550 shares in the company, valued at approximately $6,140,409. The disclosure for this sale can be found here. Insiders sold 36,977 shares of company stock worth $2,774,409 over the last three months. 0.19% of the stock is currently owned by insiders.

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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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