Target (TGT) to Release Earnings on Wednesday

Target (NYSE:TGT) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, November 20th. Analysts expect the company to announce earnings of $2.28 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect Target to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Target Price Performance

NYSE TGT opened at $156.50 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market capitalization of $72.09 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.01 and a beta of 1.24. The stock has a 50-day moving average of $152.68 and a 200 day moving average of $150.33. Target has a one year low of $128.37 and a one year high of $181.86.

Target Dividend Announcement

The business 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 $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.86%. Target’s dividend payout ratio is presently 46.28%.

Analyst Ratings Changes

TGT has been the topic of several research reports. Roth Mkm raised their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Truist Financial raised their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. UBS Group upped their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Monday, August 26th. Finally, TD Cowen lifted their target price on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.47.

Insider Buying and Selling

In other news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by corporate 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.