Target (NYSE:TGT) Releases Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.85-2.45 for the period, compared to the consensus earnings per share estimate of $2.15. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TGT. TD Cowen lowered their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Stifel Nicolaus raised their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and cut their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and dropped their price target for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.07.

Target Stock Down 1.1 %

Target stock opened at $133.06 on Friday. The firm has a market capitalization of $60.97 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.32 and a beta of 1.16. The company has a 50-day simple moving average of $136.81 and a 200-day simple moving average of $145.31. Target has a one year low of $120.21 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

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

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

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.