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Target (TGT) Beats Stock Market Upswing: What Investors Need to Know
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The most recent trading session ended with Target (TGT - Free Report) standing at $110.79, reflecting a +1.95% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.65%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.48%.
Shares of the retailer witnessed a gain of 1.86% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 0.65% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on November 15, 2023. On that day, Target is projected to report earnings of $1.48 per share, which would represent a year-over-year decline of 3.9%. Our most recent consensus estimate is calling for quarterly revenue of $25.32 billion, down 4.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.58 per share and a revenue of $107.21 billion, demonstrating changes of +25.91% and -1.75%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Right now, Target possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 14.33 right now. This signifies a discount in comparison to the average Forward P/E of 20.68 for its industry.
We can also see that TGT currently has a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 2.13.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Target (TGT) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with Target (TGT - Free Report) standing at $110.79, reflecting a +1.95% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.65%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.48%.
Shares of the retailer witnessed a gain of 1.86% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 0.65% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is scheduled to release its earnings on November 15, 2023. On that day, Target is projected to report earnings of $1.48 per share, which would represent a year-over-year decline of 3.9%. Our most recent consensus estimate is calling for quarterly revenue of $25.32 billion, down 4.53% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.58 per share and a revenue of $107.21 billion, demonstrating changes of +25.91% and -1.75%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Target. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Right now, Target possesses a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Target has a Forward P/E ratio of 14.33 right now. This signifies a discount in comparison to the average Forward P/E of 20.68 for its industry.
We can also see that TGT currently has a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Retail - Discount Stores industry held an average PEG ratio of 2.13.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.