Target (NYSE:TGT) Updates Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.850-2.450 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Trading Up 0.3 %

Shares of Target stock opened at $133.62 on Friday. The firm has a market cap of $61.22 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.32 and a beta of 1.16. The business has a 50-day moving average price of $136.45 and a 200-day moving average price of $145.23. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a twelve month low of $120.21 and a twelve month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data 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 net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that Target will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Piper Sandler reduced their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Melius Research began coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $158.23.

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.