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Target (TGT) Advances While Market Declines: Some Information for Investors
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In the latest market close, Target (TGT - Free Report) reached $155.65, with a +1.55% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 0.09%.
The the stock of retailer has fallen by 2.97% in the past month, lagging the Retail-Wholesale sector's gain of 3.95% and the S&P 500's gain of 3.3%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected on November 20, 2024. In that report, analysts expect Target to post earnings of $2.28 per share. This would mark year-over-year growth of 8.57%. 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.
For the full year, the Zacks Consensus Estimates project earnings of $9.55 per share and a revenue of $106.82 billion, demonstrating changes of +6.82% and -0.55%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Currently, Target is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 16.05. For comparison, its industry has an average Forward P/E of 20.2, which means Target is trading at a discount to the group.
Investors should also note that TGT has a PEG ratio of 1.97 right now. 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. The Retail - Discount Stores industry had an average PEG ratio of 2.34 as trading concluded yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Advances While Market Declines: Some Information for Investors
In the latest market close, Target (TGT - Free Report) reached $155.65, with a +1.55% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 0.09%.
The the stock of retailer has fallen by 2.97% in the past month, lagging the Retail-Wholesale sector's gain of 3.95% and the S&P 500's gain of 3.3%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected on November 20, 2024. In that report, analysts expect Target to post earnings of $2.28 per share. This would mark year-over-year growth of 8.57%. 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.
For the full year, the Zacks Consensus Estimates project earnings of $9.55 per share and a revenue of $106.82 billion, demonstrating changes of +6.82% and -0.55%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Currently, Target is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 16.05. For comparison, its industry has an average Forward P/E of 20.2, which means Target is trading at a discount to the group.
Investors should also note that TGT has a PEG ratio of 1.97 right now. 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. The Retail - Discount Stores industry had an average PEG ratio of 2.34 as trading concluded yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.