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Gear Up for Target (TGT) Q3 Earnings: Wall Street Estimates for Key Metrics

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The upcoming report from Target (TGT - Free Report) is expected to reveal quarterly earnings of $2.03 per share, indicating an increase of 14% compared to the year-ago period. Analysts forecast revenues of $26.38 billion, representing an increase of 4.4% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

With that in mind, let's delve into the average projections of some Target metrics that are commonly tracked and projected by analysts on Wall Street.

The collective assessment of analysts points to an estimated 'Net Sales- Merchandise sales' of $25.82 billion. The estimate suggests a change of +4.3% year over year.

Analysts forecast 'Net Sales- Merchandise sales- Beauty & household essentials' to reach $3.38 billion. The estimate suggests a change of +4.7% year over year.

The consensus estimate for 'Net Sales- Merchandise sales- Food & beverage' stands at $6.24 billion. The estimate indicates a year-over-year change of +3.8%.

The consensus among analysts is that 'Net Sales- Merchandise sales- Hardlines' will reach $3.39 billion. The estimate points to a change of +6.4% from the year-ago quarter.

According to the collective judgment of analysts, 'Number of stores - Total' should come in at 2,028 . Compared to the current estimate, the company reported 1,995 in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Retail Square Feet - Total' should arrive at 255 millions of square feet. The estimate compares to the year-ago value of 251 millions of square feet.

It is projected by analysts that the 'Retail Square Feet - 50,000 to 169,999 sq. ft' will reach 201 millions of square feet. Compared to the present estimate, the company reported 197 millions of square feet in the same quarter last year.

The average prediction of analysts places 'Retail Square Feet - 170,000 or more sq. ft' at 49 millions of square feet. The estimate compares to the year-ago value of 49 millions of square feet.

Analysts expect 'Number of stores - 49,999 or less sq. ft' to come in at 148 . The estimate is in contrast to the year-ago figure of 146 .

The combined assessment of analysts suggests that 'Number of stores - 50,000 to 169,999 sq. ft' will likely reach 1,604 . Compared to the present estimate, the company reported 1,576 in the same quarter last year.

Analysts predict that the 'Number of stores - 170,000 or more sq. ft' will reach 274 . The estimate compares to the year-ago value of 273 .

Analysts' assessment points toward 'Retail Square Feet - 49,999 or less sq. ft' reaching 4 millions of square feet. Compared to the current estimate, the company reported 4 millions of square feet in the same quarter of the previous year.

View all Key Company Metrics for Target here>>>

Shares of Target have experienced a change of +2.7% in the past month compared to the -2.6% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), TGT is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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