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Target’s stock outperforms market trends, investors await earnings report

Target's stock outperforms market trends, investors await earnings report
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Target Corporation’s (NYSE:) stock price recently saw an uptick of 1.95%, closing at $110.79 in the latest trading session. This rise outpaced gains in the S&P 500, Dow, and Nasdaq, which increased by 0.65%, 0.38%, and 0.48% respectively. Over the past month, Target’s shares have appreciated by 1.86%, reversing the trend seen in the Retail-Wholesale sector and the S&P 500, which recorded losses of 0.65% and 2.79% respectively.

Investors are now keenly awaiting Target’s upcoming earnings report on November 15, 2023. The company is expected to announce earnings of $1.48 per share for this period, translating to a year-on-year decrease of 3.9%. Additionally, Target’s quarterly revenue is projected to be $25.32 billion, marking a drop of 4.53% from the same period last year.

Zacks Consensus Estimates predict full-year earnings and revenue at $7.58 per share and $107.21 billion respectively. These figures reflect changes of +25.91% and -1.75% from the previous year.

InvestingPro Insights

InvestingPro’s real-time data and tips provide additional insights into Target Corporation’s current financial standing. According to InvestingPro, Target holds a market capitalization of $51.15 billion and a P/E ratio of 15.16, which is slightly adjusted to 14.53 for the last twelve months as of Q2 2024. Revenue growth, however, has been relatively slow at 0.14% for the same period.

InvestingPro Tips reveal that Target is a prominent player in the Consumer Staples Distribution & Retail industry, yielding high returns on invested capital. Notably, the company has raised its dividend for 53 consecutive years, indicating a consistent return to stockholders. However, there’s a declining trend in earnings per share and the stock price has fallen significantly over the last three months.

These tips give a glimpse into the vast array of insights available on InvestingPro, with over 10 additional tips listed for Target Corporation alone. For those seeking more detailed financial information and tips, InvestingPro is a valuable resource.

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