Target (NYSE:TGT) Issues Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $1.85-2.45 for the period, compared to the consensus EPS estimate of $2.15. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. StockNews.com raised Target from a “hold” rating to a “buy” rating in a report on Friday. Sanford C. Bernstein started coverage on Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. BMO Capital Markets dropped their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Finally, Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $158.23.

Target Price Performance

Shares of TGT opened at $133.62 on Friday. Target has a twelve month low of $120.21 and a twelve month high of $181.86. The stock’s 50 day moving average is $136.45 and its two-hundred day moving average is $145.23. The firm has a market capitalization of $61.22 billion, a PE ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.10 earnings per share. Research analysts anticipate that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.35%. Target’s payout ratio is 47.51%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.