Target Corp. (NYSE:TGT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.55-1.75 for the period, compared to the Thomson Reuters consensus estimate of $1.60.

Shares of Target Corp. (NYSE:TGT) opened at 71.44 on Wednesday. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 13.22 and a beta of 0.59. The company’s 50-day moving average price is $68.19 and its 200 day moving average price is $71.01. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14.

Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, November 16th. The retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business earned $16.44 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. On average, analysts predict that Target Corp. will post $4.94 earnings per share for the current fiscal year.

Earnings History and Estimates for Target Corp. (NYSE:TGT)

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.36%. Target Corp.’s dividend payout ratio is presently 44.44%.

A number of equities research analysts have weighed in on the stock. Vetr lowered shares of Target Corp. from a hold rating to a sell rating and set a $68.64 target price for the company. in a research note on Tuesday. Zacks Investment Research upgraded shares of Target Corp. from a sell rating to a hold rating in a research note on Monday. Brean Capital reiterated a buy rating and set a $28.00 target price on shares of Target Corp. in a research note on Saturday, October 8th. Nomura set a $75.00 target price on shares of Target Corp. and gave the company a hold rating in a research note on Friday, October 7th. Finally, Jefferies Group set a $72.00 target price on shares of Target Corp. and gave the company a hold rating in a research note on Tuesday, October 4th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. Target Corp. has a consensus rating of Hold and a consensus target price of $74.51.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new position in shares of Target Corp. during the second quarter worth approximately $1,320,000. Commonwealth Bank of Australia increased its position in shares of Target Corp. by 5.1% in the second quarter. Commonwealth Bank of Australia now owns 87,866 shares of the retailer’s stock worth $6,136,000 after buying an additional 4,251 shares during the last quarter. Tredje AP fonden increased its position in shares of Target Corp. by 19.4% in the second quarter. Tredje AP fonden now owns 68,546 shares of the retailer’s stock worth $4,786,000 after buying an additional 11,135 shares during the last quarter. Mycio Wealth Partners LLC increased its position in shares of Target Corp. by 1.1% in the second quarter. Mycio Wealth Partners LLC now owns 5,695 shares of the retailer’s stock worth $398,000 after buying an additional 60 shares during the last quarter. Finally, Frontier Wealth Management LLC acquired a new position in shares of Target Corp. during the second quarter worth approximately $611,000. 84.41% of the stock is owned by hedge funds and other institutional investors.

About Target Corp.

Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

5 Day Chart for NYSE:TGT

Receive News & Stock Ratings for Target Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corp. and related stocks with our FREE daily email newsletter.