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Target (TGT) Stock Dips While Market Gains: Key Facts
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The most recent trading session ended with Target (TGT - Free Report) standing at $133.85, reflecting a -0.01% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 1.04%. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 1.03%.
Coming into today, shares of the retailer had lost 9.99% in the past month. In that same time, the Retail-Wholesale sector lost 8.36%, while the S&P 500 lost 6.74%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 21, 2024. The company's upcoming EPS is projected at $2.18, signifying a 21.11% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $25.23 billion, up 1.84% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $9.32 per share and a revenue of $106.95 billion, demonstrating changes of +4.25% and -0.43%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.04% higher. Target presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.36. For comparison, its industry has an average Forward P/E of 20.26, which means Target is trading at a discount to the group.
Investors should also note that TGT has a PEG ratio of 1.26 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.39.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Target (TGT) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Target (TGT - Free Report) standing at $133.85, reflecting a -0.01% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 1.04%. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 1.03%.
Coming into today, shares of the retailer had lost 9.99% in the past month. In that same time, the Retail-Wholesale sector lost 8.36%, while the S&P 500 lost 6.74%.
Investors will be eagerly watching for the performance of Target in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 21, 2024. The company's upcoming EPS is projected at $2.18, signifying a 21.11% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $25.23 billion, up 1.84% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $9.32 per share and a revenue of $106.95 billion, demonstrating changes of +4.25% and -0.43%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Target. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.04% higher. Target presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.36. For comparison, its industry has an average Forward P/E of 20.26, which means Target is trading at a discount to the group.
Investors should also note that TGT has a PEG ratio of 1.26 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Retail - Discount Stores industry was having an average PEG ratio of 2.39.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.