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Target (TGT) Reports Q4 Earnings: What Key Metrics Have to Say
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Target (TGT - Free Report) reported $31.47 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 0.2%. EPS of $2.98 for the same period compares to $1.89 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $31.84 billion, representing a surprise of -1.16%. The company delivered an EPS surprise of +23.65%, with the consensus EPS estimate being $2.41.
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.
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: -4.4% compared to the -4.6% average estimate based on 12 analysts.
Number of stores - Total: 1,956 compared to the 1,960 average estimate based on seven analysts.
Stores Originated Comparable Sales Change: -5.4% versus -4.9% estimated by five analysts on average.
Retail Square Feet - Total: 245.94 Msq ft versus the five-analyst average estimate of 246.26 Msq ft.
Digitally Originated Comparable Sales Change: -0.7% versus -1.5% estimated by four analysts on average.
Retail Square Feet - 50,000 to 169,999 sq. ft: 192.91 Msq ft versus 193.07 Msq ft estimated by three analysts on average.
Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft compared to the 48.86 Msq ft average estimate based on three analysts.
Number of stores - 49,999 or less sq. ft: 141 versus the three-analyst average estimate of 142.
Number of stores - 50,000 to 169,999 sq. ft: 1,542 versus 1,544 estimated by three analysts on average.
Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 273.
Total Revenue- Sales: $31.47 billion compared to the $31.34 billion average estimate based on nine analysts. The reported number represents a change of +1.6% year over year.
Total Revenue- Other revenue: $452 million versus the eight-analyst average estimate of $428.31 million. The reported number represents a year-over-year change of +9.7%.
Shares of Target have returned +5.7% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Target (TGT) Reports Q4 Earnings: What Key Metrics Have to Say
Target (TGT - Free Report) reported $31.47 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 0.2%. EPS of $2.98 for the same period compares to $1.89 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $31.84 billion, representing a surprise of -1.16%. The company delivered an EPS surprise of +23.65%, with the consensus EPS estimate being $2.41.
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.
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: -4.4% compared to the -4.6% average estimate based on 12 analysts.
- Number of stores - Total: 1,956 compared to the 1,960 average estimate based on seven analysts.
- Stores Originated Comparable Sales Change: -5.4% versus -4.9% estimated by five analysts on average.
- Retail Square Feet - Total: 245.94 Msq ft versus the five-analyst average estimate of 246.26 Msq ft.
- Digitally Originated Comparable Sales Change: -0.7% versus -1.5% estimated by four analysts on average.
- Retail Square Feet - 50,000 to 169,999 sq. ft: 192.91 Msq ft versus 193.07 Msq ft estimated by three analysts on average.
- Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft compared to the 48.86 Msq ft average estimate based on three analysts.
- Number of stores - 49,999 or less sq. ft: 141 versus the three-analyst average estimate of 142.
- Number of stores - 50,000 to 169,999 sq. ft: 1,542 versus 1,544 estimated by three analysts on average.
- Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 273.
- Total Revenue- Sales: $31.47 billion compared to the $31.34 billion average estimate based on nine analysts. The reported number represents a change of +1.6% year over year.
- Total Revenue- Other revenue: $452 million versus the eight-analyst average estimate of $428.31 million. The reported number represents a year-over-year change of +9.7%.
View all Key Company Metrics for Target here>>>Shares of Target have returned +5.7% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.