Target (TGT) Rises Higher Than Market: Key Facts
The most recent trading session ended with Target (TGT) standing at $174.67, reflecting a +1.18% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.86% gain on the day. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.51%.
The retailer's shares have seen an increase of 13.59% over the last month, surpassing the Retail-Wholesale sector's gain of 1.86% and the S&P 500's gain of 2.84%.
The upcoming earnings release of Target will be of great interest to investors. It is anticipated that the company will report an EPS of $2.02, marking a 1.46% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.49 billion, down 3.29% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.39 per share and revenue of $106.62 billion, which would represent changes of +5.03% and -0.74%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 2.83% rise in the Zacks Consensus EPS estimate. Target is currently a Zacks Rank #3 (Hold).
Looking at valuation, Target is presently trading at a Forward P/E ratio of 18.38. This denotes a discount relative to the industry's average Forward P/E of 22.55.
We can also see that TGT currently has a PEG ratio of 1.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Retail - Discount Stores industry had an average PEG ratio of 2.06.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Target Corporation (TGT) : Free Stock Analysis Report
