Target (NYSE:TGT) Issues FY 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 8.300-8.900 for the period, compared to the consensus estimate of 8.590. The company issued revenue guidance of -. Target also updated its Q4 guidance to $1.85-2.45 EPS.

Target Stock Down 1.4 %

Shares of Target stock opened at $134.58 on Thursday. The company has a market cap of $61.67 billion, a P/E ratio of 14.27, a PEG ratio of 2.32 and a beta of 1.16. The firm has a fifty day moving average of $137.06 and a two-hundred day moving average of $145.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Target will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.33%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent analyst reports. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Evercore ISI dropped their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and set a $165.00 price target on shares of Target in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $160.57.

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.