Target (NYSE:TGT) Updates Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.850-2.450 for the period, compared to the consensus estimate of 2.650. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Stock Performance

Shares of TGT stock opened at $129.95 on Thursday. The business’s 50-day moving average price is $137.06 and its 200-day moving average price is $145.39. The firm has a market capitalization of $59.54 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.32 and a beta of 1.16. Target has a 12 month low of $120.21 and a 12 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.

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

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.45%. Target’s dividend payout ratio (DPR) is 47.51%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TGT shares. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Evercore ISI decreased their price target on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Finally, HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Hold” and a consensus target price 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.