Telsey Advisory Group Reduces Earnings Estimates for Target

Target Co. (NYSE:TGT) – Telsey Advisory Group dropped their FY2027 earnings per share estimates for Target in a note issued to investors on Friday, January 17th. Telsey Advisory Group analyst J. Feldman now anticipates that the retailer will post earnings per share of $10.19 for the year, down from their prior estimate of $10.34. Telsey Advisory Group has a “Outperform” rating and a $150.00 price objective on the stock. The consensus estimate for Target’s current full-year earnings is $8.60 per share.

A number of other brokerages have also issued reports on TGT. Stifel Nicolaus lifted their target price on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Guggenheim lowered their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. TD Cowen reduced their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $165.00 price objective on shares of Target in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $158.23.

Target Price Performance

Shares of NYSE TGT opened at $133.62 on Monday. The firm has a market cap of $61.22 billion, a PE ratio of 14.17, a PEG ratio of 2.32 and a beta of 1.16. The company has a fifty day moving average price of $136.13 and a 200 day moving average price of $145.14. Target has a 1-year low of $120.21 and a 1-year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share.

Hedge Funds Weigh In On Target

Hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Target by 56.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,228 shares of the retailer’s stock valued at $2,106,000 after purchasing an additional 5,137 shares during the period. AE Wealth Management LLC lifted its position in shares of Target by 45.4% during the 2nd quarter. AE Wealth Management LLC now owns 9,156 shares of the retailer’s stock worth $1,356,000 after buying an additional 2,860 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Target by 0.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 91,409 shares of the retailer’s stock worth $13,532,000 after buying an additional 400 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Target by 15.4% in the second quarter. Pacer Advisors Inc. now owns 36,052 shares of the retailer’s stock valued at $5,337,000 after acquiring an additional 4,811 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Target by 39.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,535 shares of the retailer’s stock valued at $4,076,000 after purchasing an additional 7,860 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.35%. Target’s dividend payout ratio (DPR) is presently 47.51%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.