What to Expect When Target Reports Wednesday

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Target Corp. (NYSE: TGT) is scheduled to release its most recent quarterly results before the markets open on Wednesday. The consensus estimates from Thomson Reuters call for $1.40 in EPS and $17.31 billion in revenue in the second quarter, while the same period of last year had $1.23 in EPS and $16.43 billion in revenue.

In its most recent quarterly report, Target issued guidance for this quarter calling for same-store sales growth to accelerate into the low-to-mid single-digit range and EPS to come in between $1.30 and $1.50.

This is one of the largest discount retailers in the United States, operating roughly 1,800 Target stores across the country. The company sells merchandise in its Signature Categories Style, Baby, Kids and Wellness, as well as other products in both physical Target stores and online at Target.com.

Since 2017, Target has poured tons of money into its e-commerce offerings, overhauling its stores and refreshing its inventory to better compete against Amazon. Target has even embraced the same-day delivery concept. Most importantly, the company seems to have put some good distance between the headline issues that were public relations nightmares, and it continues to be a favorite destination of consumers.

Overall Target has outperformed the broad markets, with its stock up about 50% in the past 52 weeks. In just 2018 alone, the stock is up 28%.

A few analysts weighed in on Target ahead of the report:

  • UBS has a Neutral rating with an $85 price target.
  • Loop Capital has a Hold rating and a $102 price target.
  • MKM Partners has a Buy rating with a $91 price target.
  • Susquehanna has a Positive rating with an $84 target.
  • Credit Suisse has a Buy rating and an $86 price target.
  • Guggenheim has a Hold rating.

Shares of Target were last seen trading at $82.79, with a consensus analyst price target of $79.87 and a 52-week range of $53.90 to $84.14.