We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Target (TGT) Stock Up on Q2 Earnings Top & Upbeat Outlook
Read MoreHide Full Article
Target Corp. (TGT - Free Report) , department store retailer, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.23 per share surpassed the Zacks Consensus Estimate of $1.20 and remained flat year-over-year.
Management raised fiscal 2017 earnings guidance. For fiscal 2017, Target now envisions adjusted earnings in a band of $4.34–$4.54 per share, up from the prior projection of $3.80–$4.20 per share.
For the third quarter fiscal 2017, the company expects adjusted earnings per share in the range of 75 cents to 95 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed upward revisions in the last 60 days. In the trailing four quarters, excluding quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 16.5%.
Revenues: Target generated net sales of $16,429 million that increased 1.6% year over year and outpaced the Zacks Consensus Estimate of $16,282 million. Comparable store sales gained 1.3% during the quarter.
Key Events: Target returned about $627 million to its shareholders in the form of share repurchases and dividend payments in the second quarter. The company bought back shares worth $296 million and paid dividends of $331 million in the reported quarter.
Target Corporation Price, Consensus and EPS Surprise
Stock Movement: Target’s shares are up nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Target’s earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaries,"" but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Target (TGT) Stock Up on Q2 Earnings Top & Upbeat Outlook
Target Corp. (TGT - Free Report) , department store retailer, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.23 per share surpassed the Zacks Consensus Estimate of $1.20 and remained flat year-over-year.
Management raised fiscal 2017 earnings guidance. For fiscal 2017, Target now envisions adjusted earnings in a band of $4.34–$4.54 per share, up from the prior projection of $3.80–$4.20 per share.
For the third quarter fiscal 2017, the company expects adjusted earnings per share in the range of 75 cents to 95 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed upward revisions in the last 60 days. In the trailing four quarters, excluding quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 16.5%.
Revenues: Target generated net sales of $16,429 million that increased 1.6% year over year and outpaced the Zacks Consensus Estimate of $16,282 million. Comparable store sales gained 1.3% during the quarter.
Key Events: Target returned about $627 million to its shareholders in the form of share repurchases and dividend payments in the second quarter. The company bought back shares worth $296 million and paid dividends of $331 million in the reported quarter.
Target Corporation Price, Consensus and EPS Surprise
Target Corporation Price, Consensus and EPS Surprise | Target Corporation Quote
Zacks Rank: Currently, Target carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Target’s shares are up nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Target’s earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaries,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >