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Target (TGT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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Target (TGT - Free Report) reported $24.53 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 3.1%. EPS of $2.03 for the same period compares to $2.05 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $24.52 billion, representing a surprise of +0.06%. The company delivered an EPS surprise of -0.98%, with the consensus EPS estimate being $2.05.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: -3.7% versus the 10-analyst average estimate of -3.6%.
  • Number of stores - Total: 1,963 compared to the 1,961 average estimate based on five analysts.
  • Number of stores - 49,999 or less sq. ft: 143 compared to the 143 average estimate based on three analysts.
  • Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft compared to the 49.05 Msq ft average estimate based on three analysts.
  • Retail Square Feet - 50,000 to 169,999 sq. ft: 193.53 Msq ft compared to the 193.54 Msq ft average estimate based on three analysts.
  • Retail Square Feet - Total: 246.65 Msq ft compared to the 246.86 Msq ft average estimate based on three analysts.
  • Digitally Originated Comparable Sales Change: 1.4% versus the three-analyst average estimate of 2.8%.
  • Number of stores - 50,000 to 169,999 sq. ft: 1,547 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 274.
  • Retail Square Feet - 49,999 or less sq. ft: 4.3 Msq ft compared to the 4.27 Msq ft average estimate based on three analysts.
  • Total Revenue- Sales: $24.14 billion compared to the $24.19 billion average estimate based on seven analysts. The reported number represents a change of -3.2% year over year.
  • Total Revenue- Other revenue: $388 million compared to the $382.97 million average estimate based on seven analysts. The reported number represents a change of +3.7% year over year.
View all Key Company Metrics for Target here>>>

Shares of Target have returned -6.4% over the past month versus the Zacks S&P 500 composite's +7.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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