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Target (TGT) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended July 2023, Target (TGT - Free Report) reported revenue of $24.77 billion, down 4.9% over the same period last year. EPS came in at $1.80, compared to $0.39 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $25.26 billion, representing a surprise of -1.91%. The company delivered an EPS surprise of +27.66%, with the consensus EPS estimate being $1.41.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: -5.4% compared to the -2.04% average estimate based on 12 analysts.
Number of stores - Total: 1955 versus the six-analyst average estimate of 1959.5.
Digitally Originated Comparable Sales Change: -10.5% versus the four-analyst average estimate of 1.99%.
Retail Square Feet - Total: 245.35 Msq ft versus the four-analyst average estimate of 245.75 Msq ft.
Retail Square Feet - 50,000 to 169,999 sq. ft: 191.95 Msq ft compared to the 192.09 Msq ft average estimate based on three analysts.
Stores Originated Comparable Sales Change: -4.3% compared to the -1.01% average estimate based on three analysts.
Retail Square Feet - 170,000 or more sq. ft: 49 Msq ft versus 49.09 Msq ft estimated by three analysts on average.
Number of stores - 49,999 or less sq. ft: 147 versus the three-analyst average estimate of 153.33.
Number of stores - 50,000 to 169,999 sq. ft: 1534 compared to the 1531.33 average estimate based on three analysts.
Number of stores - 170,000 or more sq. ft: 274 compared to the 274.67 average estimate based on three analysts.
Total Revenue- Sales: $24.38 billion versus the eight-analyst average estimate of $25.12 billion. The reported number represents a year-over-year change of -5%.
Total Revenue- Other revenue: $389 million versus the eight-analyst average estimate of $402.28 million. The reported number represents a year-over-year change of +1.3%.
Shares of Target have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Target (TGT) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Target (TGT - Free Report) reported revenue of $24.77 billion, down 4.9% over the same period last year. EPS came in at $1.80, compared to $0.39 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $25.26 billion, representing a surprise of -1.91%. The company delivered an EPS surprise of +27.66%, with the consensus EPS estimate being $1.41.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: -5.4% compared to the -2.04% average estimate based on 12 analysts.
- Number of stores - Total: 1955 versus the six-analyst average estimate of 1959.5.
- Digitally Originated Comparable Sales Change: -10.5% versus the four-analyst average estimate of 1.99%.
- Retail Square Feet - Total: 245.35 Msq ft versus the four-analyst average estimate of 245.75 Msq ft.
- Retail Square Feet - 50,000 to 169,999 sq. ft: 191.95 Msq ft compared to the 192.09 Msq ft average estimate based on three analysts.
- Stores Originated Comparable Sales Change: -4.3% compared to the -1.01% average estimate based on three analysts.
- Retail Square Feet - 170,000 or more sq. ft: 49 Msq ft versus 49.09 Msq ft estimated by three analysts on average.
- Number of stores - 49,999 or less sq. ft: 147 versus the three-analyst average estimate of 153.33.
- Number of stores - 50,000 to 169,999 sq. ft: 1534 compared to the 1531.33 average estimate based on three analysts.
- Number of stores - 170,000 or more sq. ft: 274 compared to the 274.67 average estimate based on three analysts.
- Total Revenue- Sales: $24.38 billion versus the eight-analyst average estimate of $25.12 billion. The reported number represents a year-over-year change of -5%.
- Total Revenue- Other revenue: $389 million versus the eight-analyst average estimate of $402.28 million. The reported number represents a year-over-year change of +1.3%.
View all Key Company Metrics for Target here>>>Shares of Target have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.