Target (NYSE:TGT) Updates FY 2024 Earnings Guidance

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

Target Price Performance

Target stock opened at $129.95 on Thursday. The firm’s 50-day moving average is $137.06 and its two-hundred day moving average is $145.39. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a market capitalization of $59.54 billion, a P/E ratio of 13.78, a P/E/G 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.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business 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 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts predict that Target will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.45%. Target’s payout ratio is 47.51%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Melius Research assumed coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Evercore ISI reduced their price objective on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. TD Cowen decreased their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Guggenheim reduced their target price on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $160.57.

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.