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Target (TGT) Stock Sinks As Market Gains: What You Should Know
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Target (TGT - Free Report) closed at $149.30 in the latest trading session, marking a -1.23% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.26%.
The retailer's stock has dropped by 2.59% in the past month, falling short of the Retail-Wholesale sector's loss of 0.61% and the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on November 20, 2024. The company is predicted to post an EPS of $2.28, indicating an 8.57% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $25.97 billion, indicating a 2.24% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.53 per share and revenue of $106.83 billion. These totals would mark changes of +6.6% and -0.54%, respectively, from last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Target presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 15.85 right now. Its industry sports an average Forward P/E of 20.28, so one might conclude that Target is trading at a discount comparatively.
It is also worth noting that TGT currently has a PEG ratio of 1.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Retail - Discount Stores industry stood at 2.35 at the close of the market yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Target (TGT) Stock Sinks As Market Gains: What You Should Know
Target (TGT - Free Report) closed at $149.30 in the latest trading session, marking a -1.23% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.26%.
The retailer's stock has dropped by 2.59% in the past month, falling short of the Retail-Wholesale sector's loss of 0.61% and the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on November 20, 2024. The company is predicted to post an EPS of $2.28, indicating an 8.57% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $25.97 billion, indicating a 2.24% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.53 per share and revenue of $106.83 billion. These totals would mark changes of +6.6% and -0.54%, respectively, from last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Target presently features a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 15.85 right now. Its industry sports an average Forward P/E of 20.28, so one might conclude that Target is trading at a discount comparatively.
It is also worth noting that TGT currently has a PEG ratio of 1.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Retail - Discount Stores industry stood at 2.35 at the close of the market yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.