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Target (TGT) Stock Moves -0.35%: What You Should Know
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Target (TGT - Free Report) ended the recent trading session at $135.02, demonstrating a -0.35% swing from the preceding day's closing price. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, added 0.21%.
The retailer's stock has dropped by 11.35% in the past month, falling short of the Retail-Wholesale sector's loss of 6.2% and the S&P 500's loss of 4.22%.
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. At the same time, our most recent consensus estimate is projecting a revenue of $25.25 billion, reflecting a 1.94% rise from the equivalent quarter last year.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $9.28 per share and revenue of $106.97 billion. These results would represent year-over-year changes of +3.8% and -0.41%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. At present, Target boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.6. For comparison, its industry has an average Forward P/E of 20.61, which means Target is trading at a discount to the group.
It's also important to note that TGT currently trades at a PEG ratio of 1.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. TGT's industry had an average PEG ratio of 2.3 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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 Moves -0.35%: What You Should Know
Target (TGT - Free Report) ended the recent trading session at $135.02, demonstrating a -0.35% swing from the preceding day's closing price. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, added 0.21%.
The retailer's stock has dropped by 11.35% in the past month, falling short of the Retail-Wholesale sector's loss of 6.2% and the S&P 500's loss of 4.22%.
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. At the same time, our most recent consensus estimate is projecting a revenue of $25.25 billion, reflecting a 1.94% rise from the equivalent quarter last year.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $9.28 per share and revenue of $106.97 billion. These results would represent year-over-year changes of +3.8% and -0.41%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. At present, Target boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Target is holding a Forward P/E ratio of 14.6. For comparison, its industry has an average Forward P/E of 20.61, which means Target is trading at a discount to the group.
It's also important to note that TGT currently trades at a PEG ratio of 1.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. TGT's industry had an average PEG ratio of 2.3 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.