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Target (TGT) Dips More Than Broader Markets: What You Should Know
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Target (TGT - Free Report) closed the most recent trading day at $154.57, moving -0.74% from the previous trading session. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Heading into today, shares of the retailer had lost 6.22% over the past month, lagging the Retail-Wholesale sector's loss of 0.81% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from Target as it approaches its next earnings release, which is expected to be May 17, 2023. On that day, Target is projected to report earnings of $1.77 per share, which would represent a year-over-year decline of 19.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.37 billion, up 0.81% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $8.42 per share and revenue of $111.38 billion. These results would represent year-over-year changes of +39.87% and +2.07%, respectively.
Investors should also note any recent changes to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 0.01% higher. Target is currently a Zacks Rank #3 (Hold).
Digging into valuation, Target currently has a Forward P/E ratio of 18.49. For comparison, its industry has an average Forward P/E of 22.23, which means Target is trading at a discount to the group.
We can also see that TGT currently has a PEG ratio of 1.25. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 2.02 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 118, which puts it in the top 47% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Target (TGT) Dips More Than Broader Markets: What You Should Know
Target (TGT - Free Report) closed the most recent trading day at $154.57, moving -0.74% from the previous trading session. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Heading into today, shares of the retailer had lost 6.22% over the past month, lagging the Retail-Wholesale sector's loss of 0.81% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from Target as it approaches its next earnings release, which is expected to be May 17, 2023. On that day, Target is projected to report earnings of $1.77 per share, which would represent a year-over-year decline of 19.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.37 billion, up 0.81% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $8.42 per share and revenue of $111.38 billion. These results would represent year-over-year changes of +39.87% and +2.07%, respectively.
Investors should also note any recent changes to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 0.01% higher. Target is currently a Zacks Rank #3 (Hold).
Digging into valuation, Target currently has a Forward P/E ratio of 18.49. For comparison, its industry has an average Forward P/E of 22.23, which means Target is trading at a discount to the group.
We can also see that TGT currently has a PEG ratio of 1.25. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 2.02 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 118, which puts it in the top 47% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.