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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Target (TGT - Free Report) closed at $133.92, marking a -4.61% move from the previous day. This move lagged the S&P 500's daily gain of 1.18%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 2.07%.
The stock of retailer has risen by 10.48% in the past month, leading the Retail-Wholesale sector's loss of 5.89% and the S&P 500's loss of 2.9%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. In that report, analysts expect Target to post earnings of $2.21 per share. This would mark year-over-year growth of 7.8%. Meanwhile, the latest consensus estimate predicts the revenue to be $26 billion, indicating a 3.15% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $8.35 per share and a revenue of $108.83 billion, demonstrating changes of +10.3% and +3.87%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Target is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Target is at present trading with a Forward P/E ratio of 16.81. This represents a discount compared to its industry average Forward P/E of 27.4.
Investors should also note that TGT has a PEG ratio of 2.74 right now. 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 2.39 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 40, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Target (TGT - Free Report) closed at $133.92, marking a -4.61% move from the previous day. This move lagged the S&P 500's daily gain of 1.18%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 2.07%.
The stock of retailer has risen by 10.48% in the past month, leading the Retail-Wholesale sector's loss of 5.89% and the S&P 500's loss of 2.9%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. In that report, analysts expect Target to post earnings of $2.21 per share. This would mark year-over-year growth of 7.8%. Meanwhile, the latest consensus estimate predicts the revenue to be $26 billion, indicating a 3.15% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $8.35 per share and a revenue of $108.83 billion, demonstrating changes of +10.3% and +3.87%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Target is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Target is at present trading with a Forward P/E ratio of 16.81. This represents a discount compared to its industry average Forward P/E of 27.4.
Investors should also note that TGT has a PEG ratio of 2.74 right now. 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 2.39 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 40, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.