Target (TGT - Free Report) closed at $87.31 in the latest trading session, marking a -0.35% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.44%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the retailer had gained 10.99% over the past month, outpacing the Retail-Wholesale sector's gain of 4.67% and the S&P 500's gain of 3.59% in that time.
Wall Street will be looking for positivity from TGT as it approaches its next earnings report date. This is expected to be November 21, 2018. The company is expected to report EPS of $1.10, up 20.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.75 billion, up 6.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.37 per share and revenue of $75.13 billion, which would represent changes of +14.01% and +4.52%, respectively, from the prior year.
Any recent changes to analyst estimates for TGT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 past month, the Zacks Consensus EPS estimate has moved 1.74% higher. TGT is currently a Zacks Rank #2 (Buy).
Digging into valuation, TGT currently has a Forward P/E ratio of 16.31. This represents a discount compared to its industry's average Forward P/E of 22.19.
It is also worth noting that TGT currently has a PEG ratio of 2.42. 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 1.81 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 44, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.