TGT - Target Corporation

NYSE - NYSE Delayed Price. Currency in USD
125.03
+0.35 (+0.28%)
At close: 4:02PM EST
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Previous Close124.68
Open125.17
Bid0.00 x 800
Ask0.00 x 1400
Day's Range124.86 - 126.40
52 Week Range60.15 - 127.97
Volume4,305,997
Avg. Volume4,780,192
Market Cap63.357B
Beta (3Y Monthly)0.56
PE Ratio (TTM)19.99
EPS (TTM)6.25
Earnings DateMar 3, 2020 - Mar 9, 2020
Forward Dividend & Yield2.64 (2.12%)
Ex-Dividend Date2019-11-19
1y Target Est136.21
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  • Target is holding its own versus digital superpowers: Cowen
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  • Thomson Reuters StreetEvents

    Edited Transcript of TGT earnings conference call or presentation 20-Nov-19 1:00pm GMT

    Q3 2019 Target Corp Earnings Call

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  • 7 Strong Stocks to Buy That Won Q3 Earnings
    InvestorPlace

    7 Strong Stocks to Buy That Won Q3 Earnings

    We are now at the very end of the third-quarter earnings season, with roughly 98% of S&P 500 companies having reported their Q3 numbers so far.The results have been broadly positive. Sure, third-quarter earnings per share dropped more than 2% year-over-year. But, trade war pressures and slowing economic activity were supposed to cause an even steeper slowdown. Indeed, about three-fourths of S&P 500 companies reported Q3 profits that were above expectations.Meanwhile, revenues largely came in above expectations, too, and rose about 4% year-over-year. Management teams also sounded a cautiously optimistic tone that profit margins would improve going forward with easing trade tensions. Consequently, the outlook is for this earnings slowdown to end soon, and turn into big profit growth in 2020.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBecause of all these positive developments, stocks have surged higher this earnings season. Companies started reporting third-quarter numbers around early October. Since then, the S&P 500 has rallied 6% to all-time highs, marking one of its most impressive earnings season rallies in recent memory.Which stocks led this earnings season rally? More importantly, which of these winners can continue to grind higher in 2020?Let's answer those questions by taking a closer look at seven strong stocks to buy that won big this earnings season, and will keep winning big into 2020. Strong Stocks to Buy: Target (TGT)Source: jejim / Shutterstock.com One stock which had a particularly good third-quarter earnings season is U.S. general merchandise retailer Target (NYSE:TGT).In late November, Target reported impressive Q3 numbers which topped revenue, comparable sales, digital sales, margin and profit expectations. Management also hiked its full-year 2019 guide, while providing an above-consensus holiday quarter guide. In sum, the report affirmed that Target is not a "one hit wonder." Instead, this company is leveraging strategic growth initiatives to sustain big growth and margin improvements.All of this will persist into 2020 for a few reasons. First, the macroeconomic retail backdrop is improving. Trade tensions will ease. Consumer confidence will rebound. Spending trends will pick up, while tariff pressures will back off. Second, Target's e-commerce business is still relatively small, while omni-channel buildout is still in its early stages. In 2020, both of these verticals will sustain strong growth through geographic expansion. Third, Target's new smaller format stores are running at much higher gross margins than the larger format stores, and Target plans to open a bunch of these smaller format stores in 2020. Fourth, wage pressures should be offset by technology investments.Target will sustain big revenue growth and margin expansion in 2020. As it does, TGT stock will sustain its upward momentum, because shares remain reasonably valued at less than 20-times forward earnings. Splunk (SPLK)Source: Michael Vi / Shutterstock.com Shares of data analytics service provider Splunk (NASDAQ:SPLK) surged in the third quarter after the company reported strong numbers which broadly underscored that the company's new Data-to-Everything platform is in the first innings of a big growth ramp.Long story short, Splunk recently launched its Data-to-Everything platform. It is basically an all-in-one enterprise ecosystem where companies can turn data of all sorts into actionable insights. Splunk hopes that this new platform will become a must-have service in every office. Early demand trends support that dream. In the third quarter of 2019, strong early demand for the Data-to-Everything platform powered above-consensus revenue and profit growth.Considering the world we live in today -- one which is flooded with data and dominated by data-driven decision making -- it is highly likely that Splunk's Data-to-Everything platform continues to grow rapidly in 2020. Rapid growth from this platform will power a string of double-beat-and-raise earnings report in 2020.The sum of these strong earnings reports, coupled with broadly bullish investor sentiment thanks to easing U.S.-China trade tensions, should keep SPLK stock on a winning path. Best Buy (BBY)Source: BobNoah / Shutterstock.com Target wasn't the only retailer that reported strong third-quarter numbers at the end of November. Electronics retailer Best Buy (NYSE:BBY) did, too.Specifically, Best Buy's third-quarter revenues, comparable sales, margins and profits all came in above expectations. Management also raised its full-year guide and delivered an above-consensus fourth-quarter guide on both the revenue and margin fronts. Of importance, Best Buy appears to be sustaining strong revenue growth momentum thanks to ever-increasing demand in the consumer electronics space, while simultaneously keeping costs down and turning that strong growth into healthy profit margin expansion.This favorable dynamic should persist in 2020. Over the next twelve months, the consumer electronics space will boom thanks to a plethora of tailwinds. You have the big 5G push, and the launch of several new 5G smartphones, including a 5G iPhone. You also have the introduction of cloud gaming consoles like Stadia, and the release of a new generation of Xbox and PlayStation consoles. There's also a big streaming push unfolding with Disney (NYSE:DIS), AT&T (NYSE:T) and Comcast (NASDAQ:CMCSA) all entering the streaming wars. This push will naturally increase demand for streaming devices, which can be found at Best Buy.All in all, 2020 is shaping up to be a pretty good year for Best Buy. Healthy revenue growth and margin expansion should persist. As it does, BBY stock should keep climbing higher, especially since shares remain dirt cheap at just 13-times forward earnings. Facebook (FB)Source: TY Lim / Shutterstock.com Global internet giant Facebook (NASDAQ:FB) reported third-quarter numbers in late October that breezed past expectations and underscored that this stock can (and will) head way higher over the next 12 months.Third-quarter revenues and profits topped expectations. User growth trends remained healthy, with the user base sustaining 8%-9% year-over-year growth. Revenue growth trends also remain healthy, with revenues yet again rising in the 30% range. Expense growth moderated significantly. Operating margins, which have been getting wiped out by big data-security investments, dropped just one point year-over-year.Zooming out, Facebook's third-quarter numbers underscored that this company is past the Cambridge Analytica scandal, and that the company survived that scandal largely unscathed. User engagement, ad demand and revenue growth all remain robust. The only casualty? Profit margins. And those are already bouncing back.In 2020, everything will only get better for Facebook. Ad revenue growth will remain strong behind advertising real estate expansion on Messenger and WhatsApp, as well as heavier ad usage in Instagram and Facebook Stories. The e-commerce business will gain strong early momentum behind Facebook Pay and Instagram Shopping. Margins will improve as big data-security investments phase out, and big revenue growth drives positive operating leverage.Facebook will get back to 20%-plus revenue and profit growth in 2020. As it does, FB stock -- which trades at just 23-times forward earnings -- will run higher. Stage Stores (SSI)Source: Shutterstock The hottest and perhaps least well-known stock on this list is small department store operator Stage Stores (NYSE:SSI). But, investors shouldn't be intimated by the stock's 630% year-to-date gain (yes, you read that right). Nor should they be scared by the company's small size and relative obscurity.Instead, Stage Stores' third-quarter numbers confirm that investors should both embrace the recent red-hot rally in SSI stock and the fact that not many people know about the huge transformation playing out here.Long story short, Stage Stores has been getting killed by Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), Target and a plethora of others, because the company has lacked the resources to compete in the full-price channel with these deep-pocketed retail giants. Amid this slaughter, Stage Stores bought off-price retailer Gordmans in 2017. It was a footnote that didn't stop the bleeding. But, management started to notice that while their full-price Stage Stores locations were struggling, their off-price Gordmans locations were doing quite well.So, in 2019, management committed to turning Stage Stores into an off-price retail giant. That is, they are closing some underperforming Stage Stores locations, and converting the rest to off-price Gordmans locations, so that by the end of 2020, the entire store portfolio will be off-price.Early data from this transition is promising. In the third quarter, Stage Stores converted 17 department stores to Gordmans off-price. Not coincidentally, comparable sales rose a whopping 17%.This transition is still in its early days. By year end, Stage Stores projects to have 158 off-price locations. By the end of 2020, it will have 700. Thus, the bulk of the transition won't happen until 2020. That means the bulk of the financial benefits won't show up until 2020 or 2021. Considering SSI stock still trades at a rather lousy 0.1-times trailing sales multiple, that also means that the bulk of the SSI stock rally is still to come. PayPal (PYPL)Source: JHVEPhoto / Shutterstock.com Shares of global digital payments platform PayPal (NASDAQ:PYPL) soared this earnings season on strong third-quarter numbers which broadly underscored that this company's growth narrative remains as robust as ever.Specifically, in late October, PayPal reported yet another double-beat earnings report. But, that wasn't the impressive part. The impressive part was that PayPal sustained huge growth across all of its important metrics, despite the slowing economic backdrop. Total payment volume growth yet again exceeded 25%. Account growth again exceeded 15%. Engagement growth hit nearly 10%. Revenue growth was roughly 20%, and operating margins expanded … again.In other words, everything at PayPal is firing on all cylinders, despite slowing economic growth. In 2020, that slowing economic growth will turn into rebounding economic growth, as trade tensions ease and capital spending trends rebound. This rebound in economic activity will add more firepower to an already red-hot PayPal growth trajectory. So will further ramp in Venmo, which is quickly turning into a must-have consumer payments ecosystem.The result? PayPal's volumes, accounts, revenues, margins and profits will all sustain big growth in 2020. As they do, PYPL stock -- which remains undervalued relative to its growth prospects -- will run higher. Apple (AAPL)Source: View Apart / Shutterstock.com Consumer technology giant Apple (NASDAQ:AAPL) had a strong showing this earnings season, and that strong showing added credibility to the idea that the company could be in store for a big 2020.The story at Apple has been a simple one. For the past decade, the company has been hyper-focused on selling hardware products to consumers around the globe. That hardware business has been slowing because of market saturation issues. In order to combat that slowing growth, Apple has built out a series of subscription software businesses to more deeply monetize its huge install base.In other words, Apple has gone through eras of big hardware growth and eras of big software growth. But, the company has yet to experience an era of both big hardware and big software growth together.Until now. Apple's most recent earnings report showed that the software business remains hot, while revenue declines in the hardware business are moderating. That red-hot software business will get even hotter in 2020, as new services like Apple TV+ and Arcade gain mainstream traction. Meanwhile, the stabilizing hardware business will start growing again, sparked by big upgrade demand, lower-priced new iPhones and a 5G iPhone in late 2020.In the big picture, then, Apple is entering a golden era in 2020 wherein both its software and hardware businesses will grow together. This collaborative growth should continue to power AAPL stock to new highs.As of this writing, Luke Lango was long BBY, T, FB, SSI, WMT, PYPL and AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post 7 Strong Stocks to Buy That Won Q3 Earnings appeared first on InvestorPlace.

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  • Beware the Valuation of Costco Stock
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    Beware the Valuation of Costco Stock

    I'd like to start this article on Costco (NASDAQ:COST) stock by saying two really important things. First, Costco is as good as it gets in the retail world.Source: Helen89 / Shutterstock.com Costco has been dominant because it has utilized two successful retail models: the warehouse retail model, which is successful because it optimizes convenience by putting everything under one roof and the membership retail model, which is successful because it enables Costco to sell goods at low prices. COST's high-margin membership fees make up for any profits the company loses by selling products for low prices.Second, Costco stock is a great long-term holding. In the long run, COST stock will hold its own against the likes of Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), Target (NYSE:TGT), and others. COST's market share in the continuous- growth North America retail market will naturally stay steady. Its margins will also remain largely stable. Thus, the company's revenues and profits will march higher over time, propelling Costco stock higher.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut investors should not buy COST stock at its current levels.Costco stock has been on fire in 2019. The shares are up 44% in 2019 amid a plethora of positive developments. But, while Costco is a great company, Costco stock is dramatically overvalued at its current levels.Sure, hot stocks can keep going higher for a long time despite their high valuations But there are multiple catalysts on the horizon which could cause investors to become concerned about the valuation of Costco stock, ultimately causing COST stock to drop by a large amount. * 7 Hot Stocks for 2020's Big Trends Costco Stock Is OvervaluedPut very simply, Costco stock is overvalued.Costco operates in the North American retail market, which is growing steadily, due to population growth, labor force growth, and wage gains. But the retail market is not growing rapidly. U.S. retail sales have been rising all year long at a 3%-5% clip. Canadian retail sales have been growing at a 1%-4% clip. Thus, North American retail sales are currently increasing 1%-5%.Costco's share of this market has been rising. Its comparable sales growth has been north of 5% for more than two years. It will likely continue to gain market share as the retail world consolidates around a few central players. But its revenue growth probably won't be too impressive. Costco's revenue growth has been stuck in the 5%-10% range for the past decade. It will stay stuck in that range for the foreseeable future.Its gross margins have peaked around 11%, as they haven't risen much in over two years. At the same time, Costco's comparable sales growth trends have slowed from about 7% in fiscal 2018, to about 6% in FY19 to roughly 5% in fiscal Q1. As a result, Costco's profitability hasn't climbed much. These dynamics should persist, so Costco's margins are likely to be stable going forward.So, at best, Costco's earnings growth is likely to rise about 10% over the next several years. Costco stock trades at 34 times analysts' average forward earnings estimate. That is a ridiculously rich multiple for a retail stock. Simply consider that the entire consumer discretionary sector trades at a much lower forward earnings multiple of 22, and its projected earnings growth rate of 12% is higher than Costco's earnings growth.In other words, Costco's valuation has exceeded its fundamentals, and that makes COST stock dangerous. Negative Catalysts on the Horizon Present Huge RisksThe scary thing about Costco stock isn't its excessive valuation. Rather, it is the fact that there are multiple excessive catalysts on the horizon which could spark a major decline by COST stock.On the bright side, the economy and consumer spending are improving thanks to easing U.S.-China trade tensions. But, nonetheless, Costco's sales trends are deteriorating. Its comparable sales growth has slowed from about 7% in FY18 to roughly 6% in FY19 to 5% in Q1. The growth of the company's e-commerce sales has slowed from 20%-plus throughout most of 2018 and 2019 to less than 20% over the past three months.In other words, Costco's growth has been slowing for years. At the same time, its margins could come under pressure because the company may be forced to invest more to offset rising e-commerce competition.So Costco stock could be hit with slowing growth and falling margins in 2020. That combination is a recipe for disaster for a richly valued growth stock. The Bottom Line on COST StockCostco stock is a long-term winner that's trading at a highly unattractive valuation. The game plan for COST stock, then, is simple. Let the company's slowing growth and stagnant margins pop the bubble of Costco stock in 2020 Then, once the stock falls back towards the $250 level, consider buying the shares on weakness.As of this writing, Luke Lango was long WMT. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post Beware the Valuation of Costco Stock appeared first on InvestorPlace.

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    (Bloomberg Opinion) -- It was never going to be easy for Kroger Co., the nation’s largest supermarket chain, to play defense at a moment of colossal change in the grocery business.That was apparent in its Thursday earnings report, in which revenue and adjusted earnings per share revenue came in slightly below analysts’ expectations, sending shares down. (On the bright side, comparable sales growth accelerated, increasing 2.5% from a year earlier.)The patchy results are the latest reason to doubt that this company is going to be able to transform itself for a more digital-centric future before it’s too late.At a presentation for analysts last month, CEO Rodney McMullen acknowledged that, two years into a three-year turnaround plan, the company has come up short. In particular, he said, “we asked our store associates to do too many things at once,” a reference to its efforts to remodel stores and make better use of shelf space while simultaneously ramping up its click-and-collect business.It is concerning that Kroger apparently has found it so difficult to do retailing battle on multiple fronts. After all, that is simply the reality of being a major brick-and-mortar chain these days, and key rivals seem to be managing it just fine.Target Corp. has renovated about 700 stores since 2017 and has also managed to roll out same-day delivery via Shipt and expand curbside pickup. In the latest quarter, 80% of its digital growth came from those and other same-day fulfillment options. Walmart Inc. has had similar success, developing an online grocery operation that is competitive with Amazon.com Inc.’s while also making physical stores cleaner and better-stocked.It’s not just that Kroger needs to be able to multitask. It also needs a better plan to win at online grocery.In a recent press release, Kroger proudly touted that, as a holiday season promotion, it would offer online grocery pickup for free and waive the usual $4.95 fee. Are shoppers seriously supposed to be impressed by that when pickup is always free at Walmart and Target? If Kroger can’t match that offering, it’s hard to see how it is going to fight effectively for digital grocery market share.Kroger’s biggest e-commerce bet is its partnership with Ocado Group Plc to build automated warehouses for grocery delivery. But those efficiencies will only matter if it can build a substantial base of online customers. And the cost of building these one-of-a-kind facilities, executives have said recently, is coming in higher than expected.In the meantime, Kroger continues to make head-scratching moves such as its foray into the world of so-called “dark kitchens,” or delivery-only food preparation facilities. Through a partnership with the cheekily named ClusterTruck, it announced this week, Kroger will experiment with on-demand delivery of prepared meals.This effectively puts the supermarket chain in competition for the diners that Grubhub, Doordash and Uber Eats are after. This category has enormous growth potential, so Kroger’s ambitions are understandable. But it’s also an area in which restaurant and technology companies have a head start and seem destined to outflank Kroger. And the whole venture seems like a distraction from the more pressing mission of shoring up its positioning in its core grocery business.Kroger’s three-year plan was underwhelming when it was unveiled two years ago, and since then the company hasn’t consistently impressed with its execution. Kroger is undoubtedly a busy company, but it’s not clear all the hustle is making it a better one.To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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