Target (TGT) Updates FY19 Earnings Guidance

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Target (NYSE:TGT) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.30-5.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.40.

TGT stock opened at $68.29 on Friday. Target has a 12-month low of $60.15 and a 12-month high of $90.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.13. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.18 and a beta of 0.72.

Target (NYSE:TGT) last released its earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The company had revenue of $17.59 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that Target will post 5.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.75%. Target’s payout ratio is 54.35%.

TGT has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Target from $70.00 to $60.00 and set an underweight rating on the stock in a report on Friday, November 23rd. Cowen upgraded shares of Target from a market perform rating to an outperform rating and set a $100.00 price target on the stock in a report on Wednesday, November 7th. Buckingham Research initiated coverage on shares of Target in a report on Thursday, November 15th. They set a buy rating and a $102.00 price target on the stock. Citigroup cut their price target on shares of Target from $84.00 to $78.00 and set a neutral rating on the stock in a report on Monday, December 3rd. Finally, Barclays restated a hold rating and set a $85.00 price target on shares of Target in a report on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $86.92.

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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, 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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Earnings History and Estimates for Target (NYSE:TGT)

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