Target (TGT) Stock Moves -1.78%: What You Should Know
Target (TGT) closed the most recent trading day at $111.75, moving -1.78% from the previous trading session. This change was narrower than the S&P 500's daily loss of 3.03%. At the same time, the Dow lost 3.15%, and the tech-heavy Nasdaq lost 2.77%.
Heading into today, shares of the retailer had lost 1.73% over the past month, lagging the Retail-Wholesale sector's gain of 1.16% and outpacing the S&P 500's loss of 1.94% in that time.
Investors will be hoping for strength from TGT as it approaches its next earnings release, which is expected to be March 3, 2020. The company is expected to report EPS of $1.66, up 8.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, up 2.24% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. TGT is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, TGT currently has a Forward P/E ratio of 16.64. Its industry sports an average Forward P/E of 21.94, so we one might conclude that TGT is trading at a discount comparatively.
Investors should also note that TGT has a PEG ratio of 2.21 right now. 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. Retail - Discount Stores stocks are, on average, holding a PEG ratio of 1.98 based on yesterday's closing prices.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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