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Target (TGT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Target (TGT - Free Report) closed at $204.94, marking a -0.08% move from the previous day. This change lagged the S&P 500's daily gain of 0.33%.
Coming into today, shares of the retailer had gained 14.08% in the past month. In that same time, the Retail-Wholesale sector gained 1.31%, while the S&P 500 gained 4.77%.
Investors will be hoping for strength from TGT as it approaches its next earnings release. On that day, TGT is projected to report earnings of $2.07 per share, which would represent year-over-year growth of 250.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.38 billion, up 8.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.61 per share and revenue of $91.72 billion, which would represent changes of -8.6% and -1.97%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. TGT is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that TGT has a Forward P/E ratio of 23.86 right now. Its industry sports an average Forward P/E of 26.85, so we one might conclude that TGT is trading at a discount comparatively.
Also, we should mention that TGT has a PEG ratio of 2.34. 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 2.34 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 233, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Target (TGT - Free Report) closed at $204.94, marking a -0.08% move from the previous day. This change lagged the S&P 500's daily gain of 0.33%.
Coming into today, shares of the retailer had gained 14.08% in the past month. In that same time, the Retail-Wholesale sector gained 1.31%, while the S&P 500 gained 4.77%.
Investors will be hoping for strength from TGT as it approaches its next earnings release. On that day, TGT is projected to report earnings of $2.07 per share, which would represent year-over-year growth of 250.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.38 billion, up 8.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.61 per share and revenue of $91.72 billion, which would represent changes of -8.6% and -1.97%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. TGT is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that TGT has a Forward P/E ratio of 23.86 right now. Its industry sports an average Forward P/E of 26.85, so we one might conclude that TGT is trading at a discount comparatively.
Also, we should mention that TGT has a PEG ratio of 2.34. 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 2.34 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 233, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.