Target (NYSE:TGT) Releases Q4 2024 Earnings Guidance

Target (NYSE:TGT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.850-2.450 for the period, compared to the consensus earnings per share estimate of 2.650. The company issued revenue guidance of -. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Price Performance

Shares of NYSE TGT opened at $133.06 on Friday. The firm has a market cap of $60.97 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The business’s 50 day moving average is $136.81 and its 200-day moving average is $145.31. 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 has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 EPS. Equities research analysts predict that Target will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is currently 47.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TGT shares. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Guggenheim dropped their price objective on Target from $180.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 target price on shares of Target in a report on Friday. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.07.

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.