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) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
Target (TGT - Free Report) reported $24.53 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 3.1%. EPS of $2.03 for the same period compares to $2.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $24.52 billion, representing a surprise of +0.06%. The company delivered an EPS surprise of -0.98%, with the consensus EPS estimate being $2.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Target performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable store sales - YoY change: -3.7% versus the 10-analyst average estimate of -3.6%.
Number of stores - Total: 1,963 compared to the 1,961 average estimate based on five analysts.
Number of stores - 49,999 or less sq. ft: 143 compared to the 143 average estimate based on three analysts.
Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft compared to the 49.05 Msq ft average estimate based on three analysts.
Retail Square Feet - 50,000 to 169,999 sq. ft: 193.53 Msq ft compared to the 193.54 Msq ft average estimate based on three analysts.
Retail Square Feet - Total: 246.65 Msq ft compared to the 246.86 Msq ft average estimate based on three analysts.
Digitally Originated Comparable Sales Change: 1.4% versus the three-analyst average estimate of 2.8%.
Number of stores - 50,000 to 169,999 sq. ft: 1,547 versus 1,544 estimated by three analysts on average.
Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 274.
Retail Square Feet - 49,999 or less sq. ft: 4.3 Msq ft compared to the 4.27 Msq ft average estimate based on three analysts.
Total Revenue- Sales: $24.14 billion compared to the $24.19 billion average estimate based on seven analysts. The reported number represents a change of -3.2% year over year.
Total Revenue- Other revenue: $388 million compared to the $382.97 million average estimate based on seven analysts. The reported number represents a change of +3.7% year over year.
Shares of Target have returned -6.4% over the past month versus the Zacks S&P 500 composite's +7.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Target (TGT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Target (TGT - Free Report) reported $24.53 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 3.1%. EPS of $2.03 for the same period compares to $2.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $24.52 billion, representing a surprise of +0.06%. The company delivered an EPS surprise of -0.98%, with the consensus EPS estimate being $2.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Target performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable store sales - YoY change: -3.7% versus the 10-analyst average estimate of -3.6%.
- Number of stores - Total: 1,963 compared to the 1,961 average estimate based on five analysts.
- Number of stores - 49,999 or less sq. ft: 143 compared to the 143 average estimate based on three analysts.
- Retail Square Feet - 170,000 or more sq. ft: 48.82 Msq ft compared to the 49.05 Msq ft average estimate based on three analysts.
- Retail Square Feet - 50,000 to 169,999 sq. ft: 193.53 Msq ft compared to the 193.54 Msq ft average estimate based on three analysts.
- Retail Square Feet - Total: 246.65 Msq ft compared to the 246.86 Msq ft average estimate based on three analysts.
- Digitally Originated Comparable Sales Change: 1.4% versus the three-analyst average estimate of 2.8%.
- Number of stores - 50,000 to 169,999 sq. ft: 1,547 versus 1,544 estimated by three analysts on average.
- Number of stores - 170,000 or more sq. ft: 273 versus the three-analyst average estimate of 274.
- Retail Square Feet - 49,999 or less sq. ft: 4.3 Msq ft compared to the 4.27 Msq ft average estimate based on three analysts.
- Total Revenue- Sales: $24.14 billion compared to the $24.19 billion average estimate based on seven analysts. The reported number represents a change of -3.2% year over year.
- Total Revenue- Other revenue: $388 million compared to the $382.97 million average estimate based on seven analysts. The reported number represents a change of +3.7% year over year.
View all Key Company Metrics for Target here>>>Shares of Target have returned -6.4% over the past month versus the Zacks S&P 500 composite's +7.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.