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Why the Market Dipped But Target (TGT) Gained Today
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In the latest close session, Target (TGT - Free Report) was up +1.74% at $88.86. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw an upswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.76%.
Heading into today, shares of the retailer had lost 1.38% over the past month, outpacing the Retail-Wholesale sector's loss of 4.08% and lagging the S&P 500's gain of 1.14%.
The upcoming earnings release of Target will be of great interest to investors. It is anticipated that the company will report an EPS of $1.78, marking a 3.78% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $25.42 billion, showing a 0.98% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.42 per share and a revenue of $105.11 billion, demonstrating changes of -16.25% and -1.36%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 0.89% lower within the past month. Target currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 11.77. This signifies a discount in comparison to the average Forward P/E of 23.31 for its industry.
It's also important to note that TGT currently trades at a PEG ratio of 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TGT's industry had an average PEG ratio of 2.54 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But Target (TGT) Gained Today
In the latest close session, Target (TGT - Free Report) was up +1.74% at $88.86. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw an upswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.76%.
Heading into today, shares of the retailer had lost 1.38% over the past month, outpacing the Retail-Wholesale sector's loss of 4.08% and lagging the S&P 500's gain of 1.14%.
The upcoming earnings release of Target will be of great interest to investors. It is anticipated that the company will report an EPS of $1.78, marking a 3.78% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $25.42 billion, showing a 0.98% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.42 per share and a revenue of $105.11 billion, demonstrating changes of -16.25% and -1.36%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 0.89% lower within the past month. Target currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Target is currently exchanging hands at a Forward P/E ratio of 11.77. This signifies a discount in comparison to the average Forward P/E of 23.31 for its industry.
It's also important to note that TGT currently trades at a PEG ratio of 2.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TGT's industry had an average PEG ratio of 2.54 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.