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Target (TGT) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Target (TGT - Free Report) closed at $140.21, marking a +1.39% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Heading into today, shares of the retailer had gained 8.2% over the past month, outpacing the Retail-Wholesale sector's gain of 0.51% and the S&P 500's gain of 0.53%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.21, reflecting a 7.8% increase from the same quarter last year. 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 are projecting earnings of $8.35 per share and revenue of $108.83 billion, which would represent changes of +10.3% and +3.87%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained unchanged. Currently, Target is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Target is at present trading with a Forward P/E ratio of 16.56. Its industry sports an average Forward P/E of 29.19, so one might conclude that Target is trading at a discount comparatively.
We can additionally observe that TGT currently boasts a PEG ratio of 2.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. 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. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Target (TGT) Advances While Market Declines: Some Information for Investors
In the latest trading session, Target (TGT - Free Report) closed at $140.21, marking a +1.39% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Heading into today, shares of the retailer had gained 8.2% over the past month, outpacing the Retail-Wholesale sector's gain of 0.51% and the S&P 500's gain of 0.53%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.21, reflecting a 7.8% increase from the same quarter last year. 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 are projecting earnings of $8.35 per share and revenue of $108.83 billion, which would represent changes of +10.3% and +3.87%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained unchanged. Currently, Target is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Target is at present trading with a Forward P/E ratio of 16.56. Its industry sports an average Forward P/E of 29.19, so one might conclude that Target is trading at a discount comparatively.
We can additionally observe that TGT currently boasts a PEG ratio of 2.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. 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. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.