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Here's What Key Metrics Tell Us About Target (TGT) Q1 Earnings
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For the quarter ended April 2023, Target (TGT - Free Report) reported revenue of $25.32 billion, up 0.6% over the same period last year. EPS came in at $2.05, compared to $2.19 in the year-ago quarter.
The reported revenue represents a surprise of -0.06% over the Zacks Consensus Estimate of $25.34 billion. With the consensus EPS estimate being $1.74, the EPS surprise was +17.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Target performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable store sales - YoY change: 0% versus 0.28% estimated by 11 analysts on average.
Number of stores - Total: 1954 versus the five-analyst average estimate of 1953.2.
Digitally Originated Comparable Sales Change: -3.4% versus the four-analyst average estimate of 6.43%.
Retail Square Feet - 170,000 or more sq. ft: 48.99 Msq ft versus 49.04 Msq ft estimated by three analysts on average.
Retail Square Feet - 50,000 to 169,999 sq. ft: 191.54 Msq ft versus the three-analyst average estimate of 191.72 Msq ft.
Retail Square Feet - Total: 244.99 Msq ft versus 245.22 Msq ft estimated by three analysts on average.
Stores Originated Comparable Sales Change: 0.7% versus -0.77% estimated by three analysts on average.
Number of stores - 49,999 or less sq. ft: 150 versus the three-analyst average estimate of 150.33.
Number of stores - 50,000 to 169,999 sq. ft: 1530 versus the three-analyst average estimate of 1528.33.
Number of stores - 170,000 or more sq. ft: 274 compared to the 274.33 average estimate based on three analysts.
Total Revenue- Sales: $24.95 billion versus $25.03 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
Total Revenue- Other revenue: $374 million compared to the $368.67 million average estimate based on eight analysts. The reported number represents a change of +10% year over year.
Shares of Target have returned -3.4% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Target (TGT) Q1 Earnings
For the quarter ended April 2023, Target (TGT - Free Report) reported revenue of $25.32 billion, up 0.6% over the same period last year. EPS came in at $2.05, compared to $2.19 in the year-ago quarter.
The reported revenue represents a surprise of -0.06% over the Zacks Consensus Estimate of $25.34 billion. With the consensus EPS estimate being $1.74, the EPS surprise was +17.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Target performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable store sales - YoY change: 0% versus 0.28% estimated by 11 analysts on average.
- Number of stores - Total: 1954 versus the five-analyst average estimate of 1953.2.
- Digitally Originated Comparable Sales Change: -3.4% versus the four-analyst average estimate of 6.43%.
- Retail Square Feet - 170,000 or more sq. ft: 48.99 Msq ft versus 49.04 Msq ft estimated by three analysts on average.
- Retail Square Feet - 50,000 to 169,999 sq. ft: 191.54 Msq ft versus the three-analyst average estimate of 191.72 Msq ft.
- Retail Square Feet - Total: 244.99 Msq ft versus 245.22 Msq ft estimated by three analysts on average.
- Stores Originated Comparable Sales Change: 0.7% versus -0.77% estimated by three analysts on average.
- Number of stores - 49,999 or less sq. ft: 150 versus the three-analyst average estimate of 150.33.
- Number of stores - 50,000 to 169,999 sq. ft: 1530 versus the three-analyst average estimate of 1528.33.
- Number of stores - 170,000 or more sq. ft: 274 compared to the 274.33 average estimate based on three analysts.
- Total Revenue- Sales: $24.95 billion versus $25.03 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
- Total Revenue- Other revenue: $374 million compared to the $368.67 million average estimate based on eight analysts. The reported number represents a change of +10% year over year.
View all Key Company Metrics for Target here>>>Shares of Target have returned -3.4% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.