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Target (TGT) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Target (TGT - Free Report) reached $158.96, with a -1.21% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.48%. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw an increase of 0.75%.
Heading into today, shares of the retailer had lost 2.49% over the past month, lagging the Retail-Wholesale sector's gain of 2.45% and the S&P 500's gain of 2% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to go public on May 22, 2024. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 1.46% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $24.48 billion, down 3.34% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.42 per share and revenue of $106.74 billion, indicating changes of +5.37% and -0.63%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Target should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Target is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Target is presently trading at a Forward P/E ratio of 17.07. This represents a discount compared to its industry's average Forward P/E of 20.83.
It's also important to note that TGT currently trades at a PEG ratio of 1.5. 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. The Retail - Discount Stores was holding an average PEG ratio of 1.9 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 250+ industries.
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.
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
In the latest market close, Target (TGT - Free Report) reached $158.96, with a -1.21% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.48%. Meanwhile, the Dow experienced a rise of 0.32%, and the technology-dominated Nasdaq saw an increase of 0.75%.
Heading into today, shares of the retailer had lost 2.49% over the past month, lagging the Retail-Wholesale sector's gain of 2.45% and the S&P 500's gain of 2% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to go public on May 22, 2024. The company's earnings per share (EPS) are projected to be $2.02, reflecting a 1.46% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $24.48 billion, down 3.34% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.42 per share and revenue of $106.74 billion, indicating changes of +5.37% and -0.63%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Target should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.33% higher. Target is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Target is presently trading at a Forward P/E ratio of 17.07. This represents a discount compared to its industry's average Forward P/E of 20.83.
It's also important to note that TGT currently trades at a PEG ratio of 1.5. 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. The Retail - Discount Stores was holding an average PEG ratio of 1.9 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.