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Target (TGT) Exceeds Market Returns: Some Facts to Consider
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Target (TGT - Free Report) closed the most recent trading day at $147.40, moving +0.46% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.06% for the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the retailer had gained 1.83% over the past month, lagging the Retail-Wholesale sector's gain of 8.04% and the S&P 500's gain of 6.45% in that time.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on March 5, 2024. The company's earnings per share (EPS) are projected to be $2.38, reflecting a 25.93% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $31.88 billion, indicating a 1.55% growth compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% higher. As of now, Target holds a Zacks Rank of #3 (Hold).
In terms of valuation, Target is presently being traded at a Forward P/E ratio of 16.08. This signifies a discount in comparison to the average Forward P/E of 21.86 for its industry.
It's also important to note that TGT currently trades at a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Discount Stores industry had an average PEG ratio of 2.11 as trading concluded yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 115, this industry ranks in the top 46% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Target (TGT) Exceeds Market Returns: Some Facts to Consider
Target (TGT - Free Report) closed the most recent trading day at $147.40, moving +0.46% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.06% for the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the retailer had gained 1.83% over the past month, lagging the Retail-Wholesale sector's gain of 8.04% and the S&P 500's gain of 6.45% in that time.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on March 5, 2024. The company's earnings per share (EPS) are projected to be $2.38, reflecting a 25.93% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $31.88 billion, indicating a 1.55% growth compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% higher. As of now, Target holds a Zacks Rank of #3 (Hold).
In terms of valuation, Target is presently being traded at a Forward P/E ratio of 16.08. This signifies a discount in comparison to the average Forward P/E of 21.86 for its industry.
It's also important to note that TGT currently trades at a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Discount Stores industry had an average PEG ratio of 2.11 as trading concluded yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 115, this industry ranks in the top 46% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.