$16.43 Billion in Sales Expected for Target Co. (TGT) This Quarter

Wall Street analysts expect that Target Co. (NYSE:TGT) will report $16.43 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Target’s earnings. The lowest sales estimate is $16.26 billion and the highest is $16.57 billion. Target posted sales of $16.02 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 16th.

According to Zacks, analysts expect that Target will report full year sales of $72.20 billion for the current year, with estimates ranging from $70.92 billion to $72.76 billion. For the next fiscal year, analysts expect that the company will report sales of $73.63 billion per share, with estimates ranging from $72.08 billion to $74.49 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Target.

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Target (NYSE:TGT) last issued its earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion during the quarter, compared to analyst estimates of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS.

TGT has been the topic of several recent research reports. MKM Partners set a $93.00 price objective on Target and gave the company a “buy” rating in a report on Friday, January 12th. ValuEngine raised Target from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Credit Suisse Group initiated coverage on Target in a report on Monday, March 5th. They set a “buy” rating and a $86.00 price objective on the stock. Susquehanna Bancshares set a $95.00 price objective on Target and gave the company a “buy” rating in a report on Monday, March 5th. Finally, Vetr raised Target from a “hold” rating to a “buy” rating and set a $75.42 price objective on the stock in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Target has an average rating of “Hold” and an average target price of $74.20.

In other news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the transaction, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the completion of the transaction, the insider now directly owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,930 shares of company stock valued at $9,102,439. Corporate insiders own 0.25% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. raised its position in shares of Target by 128.6% in the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after acquiring an additional 900 shares in the last quarter. Security Asset Management bought a new position in shares of Target in the 4th quarter worth about $115,000. First Mercantile Trust Co. bought a new position in shares of Target in the 4th quarter worth about $124,000. SWS Partners bought a new stake in Target in the 4th quarter valued at about $132,000. Finally, Independence Bank of Kentucky bought a new stake in Target in the 4th quarter valued at about $147,000. 87.02% of the stock is owned by hedge funds and other institutional investors.

Shares of TGT stock opened at $71.52 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95. Target has a fifty-two week low of $48.56 and a fifty-two week high of $78.70. The firm has a market capitalization of $39,370.97, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 3.05 and a beta of 0.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.47%. Target’s dividend payout ratio (DPR) is presently 52.65%.

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About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Earnings History and Estimates for Target (NYSE:TGT)

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