FY2019 Earnings Forecast for Target Corp. (TGT) Issued By Jefferies Group
Target Corp. (NYSE:TGT) – Stock analysts at Jefferies Group increased their FY2019 EPS estimates for Target Corp. in a research report issued to clients and investors on Wednesday. Jefferies Group analyst D. Binder now expects that the firm will earn $6.18 per share for the year, up from their previous forecast of $5.95. Jefferies Group currently has a “Hold” rating and a $72.00 target price on the stock. Jefferies Group also issued estimates for Target Corp.’s FY2020 earnings at $6.38 EPS.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The firm earned $16.44 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS.
Several other equities research analysts have also recently issued reports on the company. Barclays PLC reissued an “underweight” rating and set a $60.00 target price on shares of Target Corp. in a research note on Friday, September 16th. Vetr cut Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 target price for the company. in a research note on Monday, September 12th. Goldman Sachs Group Inc. cut their target price on Target Corp. from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, August 18th. Miller Tabak initiated coverage on Target Corp. in a research note on Friday, July 29th. They set a “buy” rating and a $87.00 target price for the company. Finally, Edward Jones cut Target Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.62.
Shares of Target Corp. (NYSE:TGT) traded up 0.78% during midday trading on Monday, hitting $78.48. The company had a trading volume of 6,782,551 shares. The firm has a market capitalization of $44.24 billion, a PE ratio of 13.96 and a beta of 0.59. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14. The company has a 50-day moving average of $69.55 and a 200 day moving average of $70.61.
A number of institutional investors have recently added to or reduced their stakes in TGT. HighPoint Advisor Group LLC boosted its position in Target Corp. by 94.5% in the third quarter. HighPoint Advisor Group LLC now owns 8,350 shares of the retailer’s stock valued at $636,000 after buying an additional 4,056 shares during the last quarter. Whalerock Point Partners LLC purchased a new stake in Target Corp. during the third quarter worth $4,044,000. Piedmont Investment Advisors LLC purchased a new stake in Target Corp. during the third quarter worth $12,708,000. OLD Republic International Corp purchased a new stake in Target Corp. during the third quarter worth $13,446,000. Finally, Puzo Michael J boosted its stake in Target Corp. by 23.1% in the third quarter. Puzo Michael J now owns 13,890 shares of the retailer’s stock worth $954,000 after buying an additional 2,610 shares in the last quarter. Institutional investors own 84.37% of the company’s stock.
In other Target Corp. news, Director Anne M. Mulcahy sold 3,957 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s payout ratio is 42.93%.
Target Corp. Company Profile
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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