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(TGT) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Target (TGT - Free Report) closed at $110.80, marking a +1.66% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
The retailer's shares have seen a decrease of 11.34% over the last month, not keeping up with the Retail-Wholesale sector's loss of 5.49% and the S&P 500's loss of 2.35%.
Market participants will be closely following the financial results of Target in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company's earnings per share (EPS) are projected to be $1.47, reflecting a 4.55% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.32 billion, down 4.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.58 per share and a revenue of $107.21 billion, demonstrating changes of +25.91% and -1.75%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. Target presently features a Zacks Rank of #3 (Hold).
Investors should also note Target's current valuation metrics, including its Forward P/E ratio of 14.37. This denotes a discount relative to the industry's average Forward P/E of 21.54.
We can also see that TGT currently has a PEG ratio of 1.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. TGT's industry had an average PEG ratio of 1.88 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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(TGT) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Target (TGT - Free Report) closed at $110.80, marking a +1.66% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
The retailer's shares have seen a decrease of 11.34% over the last month, not keeping up with the Retail-Wholesale sector's loss of 5.49% and the S&P 500's loss of 2.35%.
Market participants will be closely following the financial results of Target in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company's earnings per share (EPS) are projected to be $1.47, reflecting a 4.55% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.32 billion, down 4.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.58 per share and a revenue of $107.21 billion, demonstrating changes of +25.91% and -1.75%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. Target presently features a Zacks Rank of #3 (Hold).
Investors should also note Target's current valuation metrics, including its Forward P/E ratio of 14.37. This denotes a discount relative to the industry's average Forward P/E of 21.54.
We can also see that TGT currently has a PEG ratio of 1.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. TGT's industry had an average PEG ratio of 1.88 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.