We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Target (TGT) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
Target (TGT - Free Report) closed the most recent trading day at $149.99, moving -0.56% from the previous trading session. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the retailer had lost 1.33% in the past month. In that same time, the Retail-Wholesale sector gained 1.01%, while the S&P 500 gained 0.41%.
Market participants will be closely following the financial results of Target in its upcoming release. The company plans to announce its earnings on November 20, 2024. The company is forecasted to report an EPS of $2.28, showcasing an 8.57% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $25.97 billion, indicating a 2.24% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.54 per share and revenue of $106.82 billion. These totals would mark changes of +6.71% and -0.55%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.03% rise in the Zacks Consensus EPS estimate. At present, Target boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Target is currently being traded at a Forward P/E ratio of 15.82. For comparison, its industry has an average Forward P/E of 19.39, which means Target is trading at a discount to the group.
It's also important to note that TGT currently trades at a PEG ratio of 1.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Retail - Discount Stores was holding an average PEG ratio of 2.39 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Target (TGT) Dips More Than Broader Market: What You Should Know
Target (TGT - Free Report) closed the most recent trading day at $149.99, moving -0.56% from the previous trading session. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the retailer had lost 1.33% in the past month. In that same time, the Retail-Wholesale sector gained 1.01%, while the S&P 500 gained 0.41%.
Market participants will be closely following the financial results of Target in its upcoming release. The company plans to announce its earnings on November 20, 2024. The company is forecasted to report an EPS of $2.28, showcasing an 8.57% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $25.97 billion, indicating a 2.24% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.54 per share and revenue of $106.82 billion. These totals would mark changes of +6.71% and -0.55%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.03% rise in the Zacks Consensus EPS estimate. At present, Target boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Target is currently being traded at a Forward P/E ratio of 15.82. For comparison, its industry has an average Forward P/E of 19.39, which means Target is trading at a discount to the group.
It's also important to note that TGT currently trades at a PEG ratio of 1.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Retail - Discount Stores was holding an average PEG ratio of 2.39 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.