Target (NYSE:TGT) Updates Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.85-2.45 for the period, compared to the consensus earnings per share estimate of $2.15. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Price Performance

Target stock opened at $134.58 on Thursday. The firm has a market capitalization of $61.67 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The firm has a 50-day moving average price of $137.06 and a 200-day moving average price of $145.39. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the business earned $2.10 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Target will post 8.6 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 yield of 3.33%. Target’s payout ratio is 47.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TGT shares. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Bank of America decreased their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Melius Research began coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.