FY2017 EPS Estimates for Target Corp. (TGT) Boosted by Jefferies Group
Target Corp. (NYSE:TGT) – Research analysts at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for shares of Target Corp. in a note issued to investors on Wednesday. Jefferies Group analyst D. Binder now expects that the firm will earn $5.23 per share for the year, up from their previous forecast of $5.02. Jefferies Group has a “Hold” rating and a $72.00 price target on the stock. Jefferies Group also issued estimates for Target Corp.’s Q4 2017 earnings at $1.68 EPS, Q1 2018 earnings at $1.38 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.82 EPS and FY2018 earnings at $5.63 EPS.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The company had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the stock. Telsey Advisory Group dropped their price target on shares of Target Corp. from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Thursday, August 18th. Vetr raised shares of Target Corp. from a “hold” rating to a “buy” rating and set a $79.09 price target on the stock in a research report on Monday, August 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $75.00 price target (down previously from $81.00) on shares of Target Corp. in a research report on Wednesday, August 17th. Piper Jaffray Cos. reissued an “overweight” rating and set a $86.00 target price on shares of Target Corp. in a research report on Wednesday, August 17th. Finally, Nomura set a $75.00 target price on shares of Target Corp. and gave the stock a “hold” rating in a research report on Thursday, August 18th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.62.
Shares of Target Corp. (NYSE:TGT) opened at 76.19 on Friday. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The company has a market capitalization of $43.79 billion, a PE ratio of 14.10 and a beta of 0.59. The company has a 50 day moving average price of $68.19 and a 200 day moving average price of $71.01.
A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Target Corp. during the second quarter worth about $133,059,000. Two Sigma Advisers LP boosted its position in Target Corp. by 652.1% in the third quarter. Two Sigma Advisers LP now owns 2,012,067 shares of the retailer’s stock worth $138,189,000 after buying an additional 1,744,553 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock worth $910,156,000 after buying an additional 1,545,167 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Target Corp. during the second quarter worth about $95,095,000. Finally, Dodge & Cox boosted its position in Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock worth $820,874,000 after buying an additional 1,341,678 shares during the last quarter. 84.41% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio is presently 42.93%.
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.
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