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Target (TGT) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Target (TGT - Free Report) standing at $146.82, reflecting a -1.46% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The retailer's stock has climbed by 0.65% in the past month, exceeding the Retail-Wholesale sector's loss of 2.44% and the S&P 500's loss of 0.21%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. The company is slated to reveal its earnings on August 21, 2024. The company is expected to report EPS of $2.17, up 20.56% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $25.21 billion, indicating a 1.75% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.31 per share and revenue of $106.93 billion. These totals would mark changes of +4.14% and -0.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Target. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.06% lower. Target currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Target is presently being traded at a Forward P/E ratio of 16. This indicates a discount in contrast to its industry's Forward P/E of 21.34.
Also, we should mention that TGT has a PEG ratio of 1.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 2.32 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Target (TGT) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Target (TGT - Free Report) standing at $146.82, reflecting a -1.46% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.07%.
The retailer's stock has climbed by 0.65% in the past month, exceeding the Retail-Wholesale sector's loss of 2.44% and the S&P 500's loss of 0.21%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. The company is slated to reveal its earnings on August 21, 2024. The company is expected to report EPS of $2.17, up 20.56% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $25.21 billion, indicating a 1.75% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.31 per share and revenue of $106.93 billion. These totals would mark changes of +4.14% and -0.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Target. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.06% lower. Target currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Target is presently being traded at a Forward P/E ratio of 16. This indicates a discount in contrast to its industry's Forward P/E of 21.34.
Also, we should mention that TGT has a PEG ratio of 1.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 2.32 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.