In the latest trading session, Target (TGT - Free Report) closed at $66.09, marking a +1.74% move from the previous day. This change outpaced the S&P 500's 0.85% gain on the day. At the same time, the Dow added 1.15%, and the tech-heavy Nasdaq gained 0.77%.
Heading into today, shares of the retailer had lost 8.73% over the past month, outpacing the Retail-Wholesale sector's loss of 9.73% and the S&P 500's loss of 9.35% 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 March 5, 2019. On that day, TGT is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 10.22%. Meanwhile, our latest consensus estimate is calling for revenue of $23.13 billion, up 1.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.39 per share and revenue of $75.57 billion, which would represent changes of +14.44% and +5.14%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TGT. Recent revisions tend to reflect the latest 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. TGT is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that TGT has a Forward P/E ratio of 12.05 right now. Its industry sports an average Forward P/E of 17.91, so we one might conclude that TGT is trading at a discount comparatively.
Also, we should mention that TGT has a PEG ratio of 2.02. 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 1.43 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 188, which puts it in the bottom 27% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.