What Analysts Are Saying About Target After Earnings
Target Corp. (NYSE: TGT) released fiscal third-quarter earnings report before the markets opened last Wednesday. Quite a few retailers faltered this week despite the market hitting new highs. Target, however, was not one of them. In fact, the stock closed…
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Target Corp. (NYSE: TGT) released fiscal third-quarter earnings report before the markets opened last Wednesday. Quite a few retailers faltered this week despite the market hitting new highs. Target, however, was not one of them. In fact, the stock closed out nearly 7% higher for the week and that had a lot to do from this report alone.
24/7 Wall St. has included some key highlights from the earnings report as well as what a few analysts are saying after the fact.
The company said that it had $1.04 in earnings per share (EPS) and $16.44 billion in revenue, compared with consensus estimates from Thomson Reuters of $0.83 in EPS and revenue of $16.30 billion. The same period of last year reportedly had EPS of $0.86 and $17.61 billion in revenue.
During this quarter, net sales also reflected a decrease in comparable sales of 0.2%. Comparable digital channel sales grew 26% and contributed 0.7 percentage points to comparable sales growth.
In terms of guidance for the fourth quarter, the company expects to see sales growth in the range of −1% to 1% and EPS between $1.55 and $1.75. The consensus estimates are calling for $20.86 billion in net revenues and $1.60 in EPS.
Analysts had this to say:
- Nomura reiterated a Hold rating with a $75 price target.
- JPMorgan reiterated a Hold rating with a $79 price target.
- Telsey Advisory Group has an Outperform rating but raised its price target to $84 from $82.
- Buckingham Research set its price target at $85.
Shares of Target closed out the week at $76.19, with a consensus analyst price target of $77.17 and a 52-week trading range of $65.50 to $84.14.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
