The upcoming report from Target (TGT) is expected to reveal quarterly earnings of $2.17 per share, indicating a decline of 10% compared to the year-ago period. Analysts forecast revenues of $30.54 billion, representing a decline of 1.2% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Target metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Net Sales- Merchandise sales- Beauty & household essentials' to reach $3.36 billion. The estimate points to a change of -59.1% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Merchandise sales- Food & beverage' of $6.47 billion. The estimate indicates a year-over-year change of -0.8%.
Based on the collective assessment of analysts, 'Net Sales- Merchandise sales- Hardlines' should arrive at $5.99 billion. The estimate indicates a year-over-year change of -2.5%.
The combined assessment of analysts suggests that 'Net Sales- Merchandise sales- Other' will likely reach $92.96 million. The estimate indicates a change of -4.2% from the prior-year quarter.
The average prediction of analysts places 'Number of stores - Total' at 2,002 . Compared to the present estimate, the company reported 1,978 in the same quarter last year.
The consensus estimate for 'Retail Square Feet - Total' stands at 251 millions of square feet. The estimate is in contrast to the year-ago figure of 248 millions of square feet.
Analysts expect 'Retail Square Feet - 50,000 to 169,999 sq. ft' to come in at 198 millions of square feet. Compared to the present estimate, the company reported 195 millions of square feet in the same quarter last year.
Analysts' assessment points toward 'Digitally Originated Comparable Sales Change' reaching 4.2%. The estimate compares to the year-ago value of 8.7%.
Analysts predict that the 'Retail Square Feet - 170,000 or more sq. ft' will reach 49 millions of square feet. Compared to the present estimate, the company reported 49 millions of square feet in the same quarter last year.
It is projected by analysts that the 'Number of stores - 49,999 or less sq. ft' will reach 147 . The estimate compares to the year-ago value of 146 .
The consensus among analysts is that 'Number of stores - 50,000 to 169,999 sq. ft' will reach 1,580 . The estimate is in contrast to the year-ago figure of 1,559 .
According to the collective judgment of analysts, 'Number of stores - 170,000 or more sq. ft' should come in at 273 . The estimate compares to the year-ago value of 273 .
View all Key Company Metrics for Target here>>>
Shares of Target have demonstrated returns of +14.5% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #2 (Buy), TGT is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Target Corporation (TGT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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