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Target (TGT) Gains As Market Dips: What You Should Know
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In the latest trading session, Target (TGT - Free Report) closed at $214.79, marking a +0.18% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.26%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the retailer had gained 1.6% over the past month. This has lagged the Retail-Wholesale sector's gain of 7.3% and the S&P 500's gain of 6.07% in that time.
Target will be looking to display strength as it nears its next earnings release. On that day, Target is projected to report earnings of $3.06 per share, which would represent a year-over-year decline of 17.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.1 billion, down 0.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.47 per share and revenue of $109.75 billion, which would represent changes of +6.71% and +3.53%, respectively, from the prior year.
Any recent changes to analyst estimates for Target should also be noted by investors. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Target is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Target currently has a Forward P/E ratio of 14.82. This valuation marks a discount compared to its industry's average Forward P/E of 19.77.
Meanwhile, TGT's PEG ratio is currently 0.9. 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 1.79 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 198, putting it in the bottom 22% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Gains As Market Dips: What You Should Know
In the latest trading session, Target (TGT - Free Report) closed at $214.79, marking a +0.18% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.26%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the retailer had gained 1.6% over the past month. This has lagged the Retail-Wholesale sector's gain of 7.3% and the S&P 500's gain of 6.07% in that time.
Target will be looking to display strength as it nears its next earnings release. On that day, Target is projected to report earnings of $3.06 per share, which would represent a year-over-year decline of 17.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.1 billion, down 0.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.47 per share and revenue of $109.75 billion, which would represent changes of +6.71% and +3.53%, respectively, from the prior year.
Any recent changes to analyst estimates for Target should also be noted by investors. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Target is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Target currently has a Forward P/E ratio of 14.82. This valuation marks a discount compared to its industry's average Forward P/E of 19.77.
Meanwhile, TGT's PEG ratio is currently 0.9. 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 1.79 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 198, putting it in the bottom 22% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.