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Target (TGT - Free Report) closed the most recent trading day at $103.65, moving +2.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.74%.
Prior to today's trading, shares of the retailer had gained 6.54% outpaced the Retail-Wholesale sector's gain of 2.05% and the S&P 500's gain of 4.2%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. On that day, Target is projected to report earnings of $2.08 per share, which would represent a year-over-year decline of 19.07%. Meanwhile, the latest consensus estimate predicts the revenue to be $24.88 billion, indicating a 2.26% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.55 per share and revenue of $104.65 billion, which would represent changes of -14.79% and -1.79%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.57% higher. Target currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 13.42. Its industry sports an average Forward P/E of 21.41, 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 2.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.76.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 166, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Laps the Stock Market: Here's Why
Target (TGT - Free Report) closed the most recent trading day at $103.65, moving +2.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.74%.
Prior to today's trading, shares of the retailer had gained 6.54% outpaced the Retail-Wholesale sector's gain of 2.05% and the S&P 500's gain of 4.2%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. On that day, Target is projected to report earnings of $2.08 per share, which would represent a year-over-year decline of 19.07%. Meanwhile, the latest consensus estimate predicts the revenue to be $24.88 billion, indicating a 2.26% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.55 per share and revenue of $104.65 billion, which would represent changes of -14.79% and -1.79%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.57% higher. Target currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 13.42. Its industry sports an average Forward P/E of 21.41, 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 2.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.76.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 166, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.