Target (NYSE:TGT) Issues FY 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.300-8.900 for the period, compared to the consensus EPS estimate of 2.660. The company issued revenue guidance of -. Target also updated its Q4 guidance to $1.85-2.45 EPS.

Target Stock Up 2.8 %

Shares of TGT opened at $125.01 on Friday. The company has a market cap of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The business has a fifty day moving average of $151.27 and a 200 day moving average of $149.69. Target has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. On average, sell-side analysts expect that Target will post 9.58 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TGT. Piper Sandler cut their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research note on Wednesday. StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Target in a research note on Wednesday. Finally, Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.13.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last three months. 0.15% of the stock is currently owned by company insiders.

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.