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Compared to Estimates, Target (TGT) Q3 Earnings: A Look at Key Metrics
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Target (TGT - Free Report) reported $25.67 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 1.1%. EPS of $1.85 for the same period compares to $2.10 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.91 billion, representing a surprise of -0.94%. The company delivered an EPS surprise of -19.21%, with the consensus EPS estimate being $2.29.
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: 0.3% compared to the 1.5% average estimate based on 11 analysts.
Number of stores - Total: 1,978 compared to the 1,973 average estimate based on six analysts.
Retail Square Feet - Total: 248.28 Msq ft versus the four-analyst average estimate of 248.06 Msq ft.
Stores Originated Comparable Sales Change: -1.9% versus the four-analyst average estimate of 1.4%.
Retail Square Feet - 50,000 to 169,999 sq. ft: 195.05 Msq ft versus 194.92 Msq ft estimated by three analysts on average.
Digitally Originated Comparable Sales Change: 10.8% versus the three-analyst average estimate of 6.9%.
Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft versus the three-analyst average estimate of 48.98 Msq ft.
Number of stores - 49,999 or less sq. ft: 146 versus the three-analyst average estimate of 146.
Number of stores - 50,000 to 169,999 sq. ft: 1,559 compared to the 1,555 average estimate based on three analysts.
Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 274.
Total Revenue- Sales: $25.23 billion compared to the $25.54 billion average estimate based on eight analysts. The reported number represents a change of +0.9% year over year.
Total Revenue- Other revenue: $440 million versus the eight-analyst average estimate of $414.50 million. The reported number represents a year-over-year change of +11.7%.
Shares of Target have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1% 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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Compared to Estimates, Target (TGT) Q3 Earnings: A Look at Key Metrics
Target (TGT - Free Report) reported $25.67 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 1.1%. EPS of $1.85 for the same period compares to $2.10 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.91 billion, representing a surprise of -0.94%. The company delivered an EPS surprise of -19.21%, with the consensus EPS estimate being $2.29.
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: 0.3% compared to the 1.5% average estimate based on 11 analysts.
- Number of stores - Total: 1,978 compared to the 1,973 average estimate based on six analysts.
- Retail Square Feet - Total: 248.28 Msq ft versus the four-analyst average estimate of 248.06 Msq ft.
- Stores Originated Comparable Sales Change: -1.9% versus the four-analyst average estimate of 1.4%.
- Retail Square Feet - 50,000 to 169,999 sq. ft: 195.05 Msq ft versus 194.92 Msq ft estimated by three analysts on average.
- Digitally Originated Comparable Sales Change: 10.8% versus the three-analyst average estimate of 6.9%.
- Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft versus the three-analyst average estimate of 48.98 Msq ft.
- Number of stores - 49,999 or less sq. ft: 146 versus the three-analyst average estimate of 146.
- Number of stores - 50,000 to 169,999 sq. ft: 1,559 compared to the 1,555 average estimate based on three analysts.
- Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 274.
- Total Revenue- Sales: $25.23 billion compared to the $25.54 billion average estimate based on eight analysts. The reported number represents a change of +0.9% year over year.
- Total Revenue- Other revenue: $440 million versus the eight-analyst average estimate of $414.50 million. The reported number represents a year-over-year change of +11.7%.
View all Key Company Metrics for Target here>>>Shares of Target have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1% 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.