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Target (TGT) Gains But Lags Market: What You Should Know
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Target (TGT - Free Report) closed the most recent trading day at $159.87, moving +0.15% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 1.31%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the retailer had gained 4.79% over the past month. This has outpaced the Retail-Wholesale sector's loss of 6.89% and the S&P 500's loss of 0.41% in that time.
Investors will be hoping for strength from Target as it approaches its next earnings release, which is expected to be November 16, 2022. In that report, analysts expect Target to post earnings of $2.14 per share. This would mark a year-over-year decline of 29.37%. Our most recent consensus estimate is calling for quarterly revenue of $26.36 billion, up 2.74% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $8.09 per share and revenue of $109.79 billion. These results would represent year-over-year changes of -40.34% and +3.57%, respectively.
Any recent changes to analyst estimates for Target should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Target is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Target is currently trading at a Forward P/E ratio of 19.73. This valuation marks a discount compared to its industry's average Forward P/E of 22.86.
Also, we should mention that TGT has a PEG ratio of 2. 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 2.09 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Target (TGT) Gains But Lags Market: What You Should Know
Target (TGT - Free Report) closed the most recent trading day at $159.87, moving +0.15% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 1.31%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the retailer had gained 4.79% over the past month. This has outpaced the Retail-Wholesale sector's loss of 6.89% and the S&P 500's loss of 0.41% in that time.
Investors will be hoping for strength from Target as it approaches its next earnings release, which is expected to be November 16, 2022. In that report, analysts expect Target to post earnings of $2.14 per share. This would mark a year-over-year decline of 29.37%. Our most recent consensus estimate is calling for quarterly revenue of $26.36 billion, up 2.74% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $8.09 per share and revenue of $109.79 billion. These results would represent year-over-year changes of -40.34% and +3.57%, respectively.
Any recent changes to analyst estimates for Target should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Target is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Target is currently trading at a Forward P/E ratio of 19.73. This valuation marks a discount compared to its industry's average Forward P/E of 22.86.
Also, we should mention that TGT has a PEG ratio of 2. 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 2.09 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.