Target (NYSE:TGT) Releases Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.850-2.450 for the period, compared to the consensus estimate of 9.550. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Trading Down 0.4 %

Shares of Target stock opened at $156.00 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market cap of $71.87 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. Target has a 52-week low of $128.37 and a 52-week high of $181.86. The company’s 50-day simple moving average is $152.84 and its 200-day simple moving average is $150.32.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $2.10 earnings per share. As a group, equities research analysts anticipate that Target will post 9.55 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup downgraded Target from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Truist Financial lifted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Stifel Nicolaus increased their price target on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average price target of $177.53.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock worth $8,290,995 over the last ninety days. 0.15% of the stock is owned by company insiders.

About Target

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.