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Target (TGT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Target (TGT - Free Report) closed at $157.97, marking a -0.31% move from the previous day. This move lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
Shares of the retailer have appreciated by 4.69% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 5.56% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Target in its upcoming release. On that day, Target is projected to report earnings of $2.28 per share, which would represent year-over-year growth of 8.57%. Alongside, our most recent consensus estimate is anticipating revenue of $25.97 billion, indicating a 2.24% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.53 per share and revenue of $106.83 billion, which would represent changes of +6.6% and -0.54%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has remained steady. At present, Target boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Target is holding a Forward P/E ratio of 16.62. This signifies a discount in comparison to the average Forward P/E of 20.17 for its industry.
We can additionally observe that TGT currently boasts a PEG ratio of 2.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 2.41.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Target (TGT - Free Report) closed at $157.97, marking a -0.31% move from the previous day. This move lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
Shares of the retailer have appreciated by 4.69% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 5.56% and the S&P 500's gain of 4.87%.
Market participants will be closely following the financial results of Target in its upcoming release. On that day, Target is projected to report earnings of $2.28 per share, which would represent year-over-year growth of 8.57%. Alongside, our most recent consensus estimate is anticipating revenue of $25.97 billion, indicating a 2.24% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.53 per share and revenue of $106.83 billion, which would represent changes of +6.6% and -0.54%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has remained steady. At present, Target boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Target is holding a Forward P/E ratio of 16.62. This signifies a discount in comparison to the average Forward P/E of 20.17 for its industry.
We can additionally observe that TGT currently boasts a PEG ratio of 2.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 2.41.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.