Target (NYSE:TGT) Releases Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.850-2.450 for the period, compared to the consensus earnings per share estimate of 9.550. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Analyst Ratings Changes

Several research firms have recently commented on TGT. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Wells Fargo & Company lowered their price objective on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer cut their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.90.

Target Stock Down 21.2 %

Shares of TGT opened at $121.73 on Thursday. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $56.08 billion, a PE ratio of 12.58, a PEG ratio of 2.03 and a beta of 1.24. The stock’s 50-day moving average price is $152.33 and its two-hundred day moving average price is $150.12.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the company posted $2.10 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Target will post 9.55 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 46.28%.

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

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.