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Target (TGT) Stock Declines While Market Improves: Some Information for Investors
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Target (TGT - Free Report) closed the most recent trading day at $148.79, moving -0.73% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.13%. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Coming into today, shares of the retailer had gained 6.4% in the past month. In that same time, the Retail-Wholesale sector gained 4.57%, while the S&P 500 gained 2.99%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 5, 2024. The company's earnings per share (EPS) are projected to be $2.38, reflecting a 25.93% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $31.88 billion, showing a 1.55% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Target should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.21% higher. Target is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Target is currently being traded at a Forward P/E ratio of 16.41. This denotes a discount relative to the industry's average Forward P/E of 22.29.
Also, we should mention that TGT has a PEG ratio of 1.16. 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. TGT's industry had an average PEG ratio of 2.11 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 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Target (TGT) Stock Declines While Market Improves: Some Information for Investors
Target (TGT - Free Report) closed the most recent trading day at $148.79, moving -0.73% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.13%. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Coming into today, shares of the retailer had gained 6.4% in the past month. In that same time, the Retail-Wholesale sector gained 4.57%, while the S&P 500 gained 2.99%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 5, 2024. The company's earnings per share (EPS) are projected to be $2.38, reflecting a 25.93% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $31.88 billion, showing a 1.55% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Target should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.21% higher. Target is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Target is currently being traded at a Forward P/E ratio of 16.41. This denotes a discount relative to the industry's average Forward P/E of 22.29.
Also, we should mention that TGT has a PEG ratio of 1.16. 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. TGT's industry had an average PEG ratio of 2.11 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 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.