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Target (TGT) Dips More Than Broader Markets: What You Should Know
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Target (TGT - Free Report) closed the most recent trading day at $155.39, moving -1.17% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the retailer had lost 1.75% in the past month. In that same time, the Retail-Wholesale sector lost 4.51%, while the S&P 500 lost 3.76%.
Wall Street will be looking for positivity from Target as it approaches its next earnings report date. This is expected to be November 16, 2022. On that day, Target is projected to report earnings of $2.15 per share, which would represent a year-over-year decline of 29.04%. Our most recent consensus estimate is calling for quarterly revenue of $26.31 billion, up 2.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.11 per share and revenue of $109.76 billion, which would represent changes of -40.19% and +3.55%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Target. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.29% higher within the past month. Target currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Target is currently trading at a Forward P/E ratio of 19.39. This represents a discount compared to its industry's average Forward P/E of 21.21.
We can also see that TGT currently has a PEG ratio of 1.97. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Discount Stores was holding an average PEG ratio of 2 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Target (TGT) Dips More Than Broader Markets: What You Should Know
Target (TGT - Free Report) closed the most recent trading day at $155.39, moving -1.17% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the retailer had lost 1.75% in the past month. In that same time, the Retail-Wholesale sector lost 4.51%, while the S&P 500 lost 3.76%.
Wall Street will be looking for positivity from Target as it approaches its next earnings report date. This is expected to be November 16, 2022. On that day, Target is projected to report earnings of $2.15 per share, which would represent a year-over-year decline of 29.04%. Our most recent consensus estimate is calling for quarterly revenue of $26.31 billion, up 2.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.11 per share and revenue of $109.76 billion, which would represent changes of -40.19% and +3.55%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Target. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.29% higher within the past month. Target currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Target is currently trading at a Forward P/E ratio of 19.39. This represents a discount compared to its industry's average Forward P/E of 21.21.
We can also see that TGT currently has a PEG ratio of 1.97. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Discount Stores was holding an average PEG ratio of 2 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.