Target (TGT - Free Report) closed the most recent trading day at $124.58, moving +0.73% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.43%.
Heading into today, shares of the retailer had gained 3.97% over the past month, lagging the Retail-Wholesale sector's gain of 10.63% and the S&P 500's gain of 6.78% in that time.
Investors will be hoping for strength from TGT as it approaches its next earnings release, which is expected to be August 19, 2020. In that report, analysts expect TGT to post earnings of $1.47 per share. This would mark a year-over-year decline of 19.23%. Our most recent consensus estimate is calling for quarterly revenue of $19.62 billion, up 6.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.96 per share and revenue of $82.76 billion, which would represent changes of -22.38% and +5.95%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TGT. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TGT is currently a Zacks Rank #3 (Hold).
Digging into valuation, TGT currently has a Forward P/E ratio of 24.96. Its industry sports an average Forward P/E of 24.96, so we one might conclude that TGT is trading at a no noticeable deviation comparatively.
It is also worth noting that TGT currently has a PEG ratio of 4.12. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TGT's industry had an average PEG ratio of 4.12 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 118, putting it in the top 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.