Target (NYSE:TGT) Issues FY 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 8.300-8.900 for the period, compared to the consensus EPS estimate of 8.590. The company issued revenue guidance of -. Target also updated its Q4 guidance to $1.85-2.45 EPS.

Target Trading Down 1.4 %

Shares of TGT opened at $134.58 on Thursday. The stock’s fifty day simple moving average is $137.06 and its 200 day simple moving average is $145.39. Target has a twelve month low of $120.21 and a twelve month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $61.67 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. On average, equities research analysts forecast that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.33%. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGT. JPMorgan Chase & Co. lowered their price target on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and lowered their target price for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Roth Mkm reduced their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Citigroup cut shares of Target from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $188.00 to $130.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $160.57.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.