Yahoo Finance Target (TGT) Gains But Lags Market: What You Should Know
Target (TGT) closed at $188.30 in the latest trading session, marking a +0.07% move from the prior day. This move lagged the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 1.97%.
Prior to today's trading, shares of the retailer had gained 9.17% over the past month. This has outpaced the Retail-Wholesale sector's loss of 0.97% and the S&P 500's gain of 2.58% in that time.
Wall Street will be looking for positivity from TGT as it approaches its next earnings report date. On that day, TGT is projected to report earnings of $2.40 per share, which would represent year-over-year growth of 42.01%. Our most recent consensus estimate is calling for quarterly revenue of $27.51 billion, up 17.59% from the year-ago period.
TGT's full-year Zacks Consensus Estimates are calling for earnings of $9.08 per share and revenue of $92.13 billion. These results would represent year-over-year changes of +42.1% and +17.95%, respectively.
Any recent changes to analyst estimates for TGT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.4% higher. TGT currently has a Zacks Rank of #2 (Buy).
Investors should also note TGT's current valuation metrics, including its Forward P/E ratio of 21.46. Its industry sports an average Forward P/E of 21.46, so we one might conclude that TGT is trading at a no noticeable deviation comparatively.
We can also see that TGT currently has a PEG ratio of 2.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TGT's industry had an average PEG ratio of 2.53 as of yesterday's close.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 20% 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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