Thursday, 27 July, 2017

Target Raises Second-quarter Earnings Forecast

Why Target Remains Unattractive to Shoppers and Investors Target Corporation - TGT - Stock Price Today - Zacks
Juana Turner | 16 July, 2017, 00:57

Target boosted its guidance for the second quarter after its campaign to revitalize the brand pushed sales higher and boosted customer traffic.

In February, the retailer vowed aggressive promotions at a meeting with investors, saying new brands and investments in technology and small stores would help it eventually win back market share. Pacer Advisors Inc.'s holdings in Target Corporation were worth $856,000 at the end of the most recent quarter. Cribstone Capital Management LLC increased its stake in shares of Target Corporation by 114.2% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer's stock worth $141,000 after buying an additional 781 shares during the period. Ledyard National Bank raised its stake in shares of Target Corporation by 55.2% in the second quarter. The fund owned 29,408 shares of the retailer's stock after buying an additional 4,177 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Target Corporation by 516.5% in the second quarter. Cascade Investment Advisors Inc. now owns 24,845 shares of the retailer's stock worth $1,299,000 after buying an additional 400 shares during the last quarter. The Firm owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries.

The average 1-year price target for Target Corporation (TGT) - averaging the work of different analysts - reveals a mean PT of $58/share. There are brokerage firms with lower targets than the average, including one setting a price target of $44. Target Corporation's dividend payout ratio (DPR) is 48.98%. Also, it has an estimated price-earnings (P/E) multiple of 0 and a trailing 12-month price-earnings (P/E) multiple of 0.

The collective rating of 3.1 for Target Corporation (NYSE:TGT) also leans strongly towards the bearish end of the spectrum. Investors purchased 38,360 call options on the stock. This is an increase of 296% compared to the typical daily volume of 9,682 call options. TGT will report 2Q17 EPS on Wednesday, August 16th. The retailer reported $1.21 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.91 by $0.30. It has a return on equity (ROE) of 25.00%. Company fiscal year is ending in December and analysts' consensus recommendation is Outperform for BAC and estimated EPS for next quarter is $0.46. During the same period previous year, the business posted $1.29 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. Dividends play a key role when investors think of Target as an investment - TGT is a dividend aristocrat, 45 years of dividend growth, and now pays an impressive 4.8% yield at a comfortable payout ratio of 48%.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. The ex-dividend date of this dividend is Monday, August 14th. In last 4 months performance of CMCSA was 5.42% while its price to sale ratio is 2.30 and price to book ratio is 3.39. Target Corporation (NYSE:TGT) has declined 16.51% since July 14, 2016 and is downtrending. Target Corporation's dividend payout ratio (DPR) is now 48.98%.

Target Corporation (TGT) traded down 0.17% during trading on Monday, reaching $53.22. If you are viewing this article on another domain, it was stolen and reposted in violation of US and global trademark and copyright laws. The legal version of this article can be read at https://www.com-unik.info/2017/07/15/nordea-investment-management-ab-acquires-4177-shares-of-target-corporation-tgt-updated.html. Vetr cut shares of Target Corporation from a "buy" rating to a "hold" rating and set a $59.66 target price on the stock.in a research report on Monday, June 12th. Finally, BMO Capital Markets upped their target price on shares of Target Corporation from $60.00 to $62.00 and gave the stock a "market perform" rating in a research note on Friday.

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