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Target (TGT) Gains As Market Dips: What You Should Know
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Target (TGT - Free Report) closed the most recent trading day at $248.58, moving +0.42% from the previous trading session. This change outpaced the S&P 500's 0.86% loss on the day.
Prior to today's trading, shares of the retailer had gained 6.73% over the past month. This has outpaced the Retail-Wholesale sector's gain of 3.7% and the S&P 500's gain of 3.22% in that time.
TGT will be looking to display strength as it nears its next earnings release. In that report, analysts expect TGT to post earnings of $3.36 per share. This would mark a year-over-year decline of 0.59%. Our most recent consensus estimate is calling for quarterly revenue of $24.53 billion, up 6.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.10 per share and revenue of $102.11 billion, which would represent changes of +28.45% and +9.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TGT. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.34% higher. TGT is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, TGT is currently trading at a Forward P/E ratio of 20.46. This valuation marks a discount compared to its industry's average Forward P/E of 24.
We can also see that TGT currently has a PEG ratio of 1.54. 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. The Retail - Discount Stores was holding an average PEG ratio of 1.93 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 18, putting it in the top 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Target (TGT) Gains As Market Dips: What You Should Know
Target (TGT - Free Report) closed the most recent trading day at $248.58, moving +0.42% from the previous trading session. This change outpaced the S&P 500's 0.86% loss on the day.
Prior to today's trading, shares of the retailer had gained 6.73% over the past month. This has outpaced the Retail-Wholesale sector's gain of 3.7% and the S&P 500's gain of 3.22% in that time.
TGT will be looking to display strength as it nears its next earnings release. In that report, analysts expect TGT to post earnings of $3.36 per share. This would mark a year-over-year decline of 0.59%. Our most recent consensus estimate is calling for quarterly revenue of $24.53 billion, up 6.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.10 per share and revenue of $102.11 billion, which would represent changes of +28.45% and +9.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TGT. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.34% higher. TGT is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, TGT is currently trading at a Forward P/E ratio of 20.46. This valuation marks a discount compared to its industry's average Forward P/E of 24.
We can also see that TGT currently has a PEG ratio of 1.54. 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. The Retail - Discount Stores was holding an average PEG ratio of 1.93 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 18, putting it in the top 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.