Target (NYSE:TGT) Issues Q4 2024 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-2.450 for the period, compared to the consensus EPS estimate of 9.550. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. UBS Group increased their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and lowered their price target for the company from $184.00 to $108.00 in a report on Wednesday. Finally, Evercore ISI reduced their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Target Price Performance

Shares of Target stock opened at $121.66 on Friday. The company has a 50-day simple moving average of $151.79 and a two-hundred day simple moving average of $149.92. Target has a twelve month low of $120.21 and a twelve month high of $181.86. The stock has a market capitalization of $56.05 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued 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). Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts forecast that Target will post 9.55 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.68%. Target’s dividend payout ratio (DPR) is currently 46.28%.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Target Company Profile

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.