Target (NYSE:TGT) Issues FY 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 8.300-8.900 for the period, compared to the consensus EPS estimate of 8.590. The company issued revenue guidance of -. Target also updated its Q4 guidance to $1.85-2.45 EPS.

Target Stock Performance

Shares of NYSE TGT opened at $133.62 on Friday. The company has a market cap of $61.22 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50-day simple moving average of $136.45 and a 200-day simple moving average of $145.23.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the firm posted $2.10 earnings per share. Target’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Target will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.35%. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TGT. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Evercore ISI reduced their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 target price on shares of Target in a research report on Friday. Finally, Bank of America cut their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average price target of $158.23.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.