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Target (TGT) Dips More Than Broader Markets: What You Should Know
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Target (TGT - Free Report) closed at $84.32 in the latest trading session, marking a -1.35% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.4%, and the Nasdaq, a tech-heavy index, 0%.
Prior to today's trading, shares of the retailer had gained 1.03% over the past month. This has outpaced the Retail-Wholesale sector's loss of 0.59% and the S&P 500's loss of 1.27% in that time.
TGT will be looking to display strength as it nears its next earnings release, which is expected to be November 20, 2018. On that day, TGT is projected to report earnings of $1.10 per share, which would represent year-over-year growth of 20.88%. Our most recent consensus estimate is calling for quarterly revenue of $17.79 billion, up 6.75% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $5.39 per share and revenue of $75.16 billion. These results would represent year-over-year changes of +14.44% and +4.56%, respectively.
Investors might also notice recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. TGT currently has a Zacks Rank of #2 (Buy).
In terms of valuation, TGT is currently trading at a Forward P/E ratio of 15.85. Its industry sports an average Forward P/E of 22.11, so we one might conclude that TGT is trading at a discount comparatively.
Also, we should mention that TGT has a PEG ratio of 2.36. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 28% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Dips More Than Broader Markets: What You Should Know
Target (TGT - Free Report) closed at $84.32 in the latest trading session, marking a -1.35% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.4%, and the Nasdaq, a tech-heavy index, 0%.
Prior to today's trading, shares of the retailer had gained 1.03% over the past month. This has outpaced the Retail-Wholesale sector's loss of 0.59% and the S&P 500's loss of 1.27% in that time.
TGT will be looking to display strength as it nears its next earnings release, which is expected to be November 20, 2018. On that day, TGT is projected to report earnings of $1.10 per share, which would represent year-over-year growth of 20.88%. Our most recent consensus estimate is calling for quarterly revenue of $17.79 billion, up 6.75% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $5.39 per share and revenue of $75.16 billion. These results would represent year-over-year changes of +14.44% and +4.56%, respectively.
Investors might also notice recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. TGT currently has a Zacks Rank of #2 (Buy).
In terms of valuation, TGT is currently trading at a Forward P/E ratio of 15.85. Its industry sports an average Forward P/E of 22.11, so we one might conclude that TGT is trading at a discount comparatively.
Also, we should mention that TGT has a PEG ratio of 2.36. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 28% 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.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.