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Target (TGT) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, Target (TGT - Free Report) reached $163.40, with a -0.98% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 0.12%.
Prior to today's trading, shares of the retailer had lost 1.54% over the past month. This has lagged the Retail-Wholesale sector's loss of 1.25% and the S&P 500's loss of 0.9% in that time.
Market participants will be closely following the financial results of Target in its upcoming release. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 1.46% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $24.49 billion, indicating a 3.29% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $9.39 per share and a revenue of $106.62 billion, demonstrating changes of +5.03% and -0.74%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 0.24% higher. Currently, Target is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Target currently has a Forward P/E ratio of 17.57. This expresses a discount compared to the average Forward P/E of 21.29 of its industry.
Also, we should mention that TGT has a PEG ratio of 1.55. 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. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 1.9.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 49, this industry ranks in the top 20% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Target (TGT) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Target (TGT - Free Report) reached $163.40, with a -0.98% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 0.12%.
Prior to today's trading, shares of the retailer had lost 1.54% over the past month. This has lagged the Retail-Wholesale sector's loss of 1.25% and the S&P 500's loss of 0.9% in that time.
Market participants will be closely following the financial results of Target in its upcoming release. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 1.46% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $24.49 billion, indicating a 3.29% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $9.39 per share and a revenue of $106.62 billion, demonstrating changes of +5.03% and -0.74%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 0.24% higher. Currently, Target is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Target currently has a Forward P/E ratio of 17.57. This expresses a discount compared to the average Forward P/E of 21.29 of its industry.
Also, we should mention that TGT has a PEG ratio of 1.55. 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. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 1.9.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 49, this industry ranks in the top 20% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.