Target Corp (TGT)

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Earnings Previews: Target Corp. (NYSE: TGT)
By: 24/7 Wall St. | May 16, 2022

• Here is a look at two companies due to report results before markets open on Wednesday.

Target

Target Corp. (NYSE: TGT) stock has added about 9.8% to its share price over the past 12 months. The company recently made several changes to its executive leadership team, but investors will be paying more attention to the company’s same-store sales results. Are consumers still spending, and what does the company expect going forward? Comparisons to last year’s sales will be further compressed by the jump in sales last year following the lifting of pandemic restrictions and federal payments to consumers.

Of 30 analysts covering Target, 22 have a Buy or Strong Buy rating and seven others rate the shares at Hold. At a share price of around $219.75, the upside potential based on a median price target of $275.00 is about 25.1%. At the high price target of $353.00, the upside potential is 60.6%.

The consensus first-quarter 2023 revenue estimate is $24.46 billion, down 21.1% sequentially but up 1.1% year over year. Adjusted EPS are forecast at $3.06, down 4% sequentially and down 17.1% year over year. For the full year, analysts expect Target to report EPS of $14.62, up 7.8%, on sales of $109.8 billion, up 3.6%.

Target stock trades at 15.o times expected 2023 EPS, 13.9 times estimated 2024 earnings of $15.83 and 12.8 times estimated 2025 earnings of $17.12 per share. The stock’s 52-week range is $184.00 to $268.98. The company pays an annual dividend of $3.60 (yield of 1.64%). Total shareholder return for the past year is 6.9%.

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