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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Target (TGT - Free Report) ended the recent trading session at $145.03, demonstrating a -0.74% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.96%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 1.3%.
The retailer's stock has climbed by 3.57% in the past month, falling short of the Retail-Wholesale sector's gain of 4.23% and the S&P 500's gain of 3.69%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected on March 5, 2024. The company is expected to report EPS of $2.38, up 25.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.88 billion, up 1.55% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.5% rise in the Zacks Consensus EPS estimate. Target is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 15.99 right now. This represents a discount compared to its industry's average Forward P/E of 21.89.
It is also worth noting that TGT currently has a PEG ratio of 1.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 2.12.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
Target (TGT - Free Report) ended the recent trading session at $145.03, demonstrating a -0.74% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.96%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 1.3%.
The retailer's stock has climbed by 3.57% in the past month, falling short of the Retail-Wholesale sector's gain of 4.23% and the S&P 500's gain of 3.69%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected on March 5, 2024. The company is expected to report EPS of $2.38, up 25.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.88 billion, up 1.55% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.5% rise in the Zacks Consensus EPS estimate. Target is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 15.99 right now. This represents a discount compared to its industry's average Forward P/E of 21.89.
It is also worth noting that TGT currently has a PEG ratio of 1.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 2.12.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.