Target (NYSE:TGT) Releases Q4 2024 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-2.450 for the period, compared to the consensus EPS estimate of 9.550. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Stock Down 0.0 %

Shares of NYSE TGT opened at $121.66 on Friday. The stock has a market capitalization of $56.05 billion, a PE ratio of 12.57, a P/E/G ratio of 2.03 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average of $151.79 and a 200-day moving average of $149.92. Target has a 52-week low of $120.21 and a 52-week high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $2.10 EPS. On average, analysts anticipate that Target will post 9.55 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Wednesday. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday. Guggenheim lowered their target price on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Piper Sandler lowered their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $162.13.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Target Company Profile

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.