In the latest trading session, Target (TGT - Free Report) closed at $72.02, marking a -0.95% move from the previous day. This move lagged the S&P 500's daily loss of 0.35%. Elsewhere, the Dow lost 0.4%, while the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the retailer had gained 3.4% over the past month, outpacing the Retail-Wholesale sector's gain of 2.56% and lagging the S&P 500's gain of 4.48% 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. The company is expected to report EPS of $1.53, up 11.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.15 billion, up 1.67% from the year-ago period.
It is also important to note the recent changes to analyst estimates for TGT. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. TGT is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note TGT's current valuation metrics, including its Forward P/E ratio of 13.01. This valuation marks a discount compared to its industry's average Forward P/E of 19.41.
Also, we should mention that TGT has a PEG ratio of 2.18. 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 1.5 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.