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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Target (TGT - Free Report) closed at $152.99 in the latest trading session, marking a -1.93% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.05%.
Shares of the retailer witnessed a loss of 5.13% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 4.61%, and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company's upcoming EPS is projected at $2.08, signifying a 16.85% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.37 billion, up 4.34% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.43 per share and revenue of $110.11 billion, indicating changes of +37.78% and +5.09%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.46% increase. Target presently features a Zacks Rank of #2 (Buy).
Investors should also note Target's current valuation metrics, including its Forward P/E ratio of 14.96. This valuation marks a discount compared to its industry average Forward P/E of 23.11.
It is also worth noting that TGT currently has a PEG ratio of 2.46. 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 of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 1.83.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Target (TGT) Stock Slides as Market Rises: Facts to Know Before You Trade
Target (TGT - Free Report) closed at $152.99 in the latest trading session, marking a -1.93% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.05%.
Shares of the retailer witnessed a loss of 5.13% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 4.61%, and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company's upcoming EPS is projected at $2.08, signifying a 16.85% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.37 billion, up 4.34% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.43 per share and revenue of $110.11 billion, indicating changes of +37.78% and +5.09%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.46% increase. Target presently features a Zacks Rank of #2 (Buy).
Investors should also note Target's current valuation metrics, including its Forward P/E ratio of 14.96. This valuation marks a discount compared to its industry average Forward P/E of 23.11.
It is also worth noting that TGT currently has a PEG ratio of 2.46. 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 of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 1.83.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.