Target (NYSE:TGT) Issues Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.850-2.450 for the period, compared to the consensus EPS estimate of 2.650. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Trading Down 3.4 %

Target stock opened at $129.95 on Thursday. The company has a market capitalization of $59.54 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The business’s fifty day simple moving average is $137.06 and its two-hundred day simple moving average is $145.39. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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

Target Dividend Announcement

The firm also recently disclosed 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. This represents a $4.48 annualized dividend and a yield of 3.45%. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Citigroup cut Target from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Piper Sandler cut their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, Daiwa America cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $160.57.

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.