We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Target (TGT) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
The latest trading session saw Target (TGT - Free Report) ending at $111.05, denoting a -1.6% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
Coming into today, shares of the retailer had gained 7.47% in the past month. In that same time, the Retail-Wholesale sector gained 5.64%, while the S&P 500 gained 3.08%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected 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%. In the meantime, our current consensus estimate forecasts the revenue to be $25.32 billion, indicating a 4.53% decline compared to the corresponding quarter of the prior year.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $7.58 per share and revenue of $107.21 billion. These results would represent year-over-year changes of +25.91% and -1.75%, respectively.
Investors might also notice recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 0.02% lower. Target is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.88. This valuation marks a discount compared to its industry's average Forward P/E of 23.05.
It's also important to note that TGT currently trades at a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Discount Stores was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Target (TGT) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Target (TGT - Free Report) ending at $111.05, denoting a -1.6% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
Coming into today, shares of the retailer had gained 7.47% in the past month. In that same time, the Retail-Wholesale sector gained 5.64%, while the S&P 500 gained 3.08%.
The upcoming earnings release of Target will be of great interest to investors. The company's earnings report is expected 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%. In the meantime, our current consensus estimate forecasts the revenue to be $25.32 billion, indicating a 4.53% decline compared to the corresponding quarter of the prior year.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $7.58 per share and revenue of $107.21 billion. These results would represent year-over-year changes of +25.91% and -1.75%, respectively.
Investors might also notice recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 moved 0.02% lower. Target is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.88. This valuation marks a discount compared to its industry's average Forward P/E of 23.05.
It's also important to note that TGT currently trades at a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Discount Stores was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.