Target (TGT) Stock Moves -0.66%: What You Should Know
Target (TGT) closed the most recent trading day at $207.27, moving -0.66% from the previous trading session. This change was narrower than the S&P 500's 0.68% loss on the day.
Coming into today, shares of the retailer had gained 11.2% in the past month. In that same time, the Retail-Wholesale sector gained 0.87%, while the S&P 500 gained 6.62%.
TGT will be looking to display strength as it nears its next earnings release, which is expected to be May 19, 2021. The company is expected to report EPS of $2.07, up 250.85% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.38 billion, up 8.98% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $8.61 per share and revenue of $91.72 billion. These results would represent year-over-year changes of -8.6% and -1.97%, respectively.
Investors might also notice recent changes to analyst estimates for TGT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% higher. TGT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, TGT is currently trading at a Forward P/E ratio of 24.23. Its industry sports an average Forward P/E of 27.15, so we one might conclude that TGT is trading at a discount comparatively.
Investors should also note that TGT has a PEG ratio of 2.37 right now. 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. TGT's industry had an average PEG ratio of 2.37 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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