Wall Street analysts forecast that Target (TGT) will report quarterly earnings of $1.68 per share in its upcoming release, pointing to a year-over-year decline of 17.2%. It is anticipated that revenues will amount to $24.42 billion, exhibiting a decline of 0.5% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Target metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Total Revenue- Sales' stands at $24.15 billion. The estimate indicates a year-over-year change of 0%.
Based on the collective assessment of analysts, 'Total Revenue- Other revenue' should arrive at $410.66 million. The estimate points to a change of +5.8% from the year-ago quarter.
The consensus among analysts is that 'Number of stores - Total' will reach 1,983. The estimate is in contrast to the year-ago figure of 1,963.
Analysts forecast 'Retail Square Feet - Total' to reach 249.22 Msq ft. Compared to the present estimate, the company reported 246.65 Msq ft in the same quarter last year.
According to the collective judgment of analysts, 'Retail Square Feet - 50,000 to 169,999 sq. ft' should come in at 196.13 Msq ft. The estimate is in contrast to the year-ago figure of 193.53 Msq ft.
Analysts predict that the 'Retail Square Feet - 170,000 or more sq. ft' will reach 48.80 Msq ft. Compared to the current estimate, the company reported 48.82 Msq ft in the same quarter of the previous year.
The average prediction of analysts places 'Number of stores - 49,999 or less sq. ft' at 148. The estimate compares to the year-ago value of 143.
The collective assessment of analysts points to an estimated 'Number of stores - 50,000 to 169,999 sq. ft' of 1,563. The estimate compares to the year-ago value of 1,547.
Analysts expect 'Number of stores - 170,000 or more sq. ft' to come in at 273. The estimate is in contrast to the year-ago figure of 273.
Analysts' assessment points toward 'Retail Square Feet - 49,999 or less sq. ft' reaching 4.45 Msq ft. Compared to the current estimate, the company reported 4.3 Msq ft in the same quarter of the previous year.
View all Key Company Metrics for Target here>>>
Over the past month, Target shares have recorded returns of +4.3% versus the Zacks S&P 500 composite's +9.8% change. Based on its Zacks Rank #5 (Strong Sell), TGT will likely underperform the overall market in the upcoming period. 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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