Send me real-time posts from this site at my email
Zacks

Target (TGT) Stock Sinks As Market Gains: What You Should Know

Target (TGT) closed at $260.85 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's daily gain of 0.24%.

Prior to today's trading, shares of the retailer had gained 8.51% over the past month. This has outpaced the Retail-Wholesale sector's gain of 0.22% and the S&P 500's gain of 4.09% in that time.

Wall Street will be looking for positivity from TGT as it approaches its next earnings report date. This is expected to be August 18, 2021. In that report, analysts expect TGT to post earnings of $3.36 per share. This would mark a year-over-year decline of 0.59%. Meanwhile, our latest consensus estimate is calling for revenue of $24.53 billion, up 6.76% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $12.38 per share and revenue of $102.11 billion, which would represent changes of +31.42% and +9.13%, respectively, from the prior year.

Any recent changes to analyst estimates for TGT should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 2.68% higher. TGT is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that TGT has a Forward P/E ratio of 21.08 right now. Its industry sports an average Forward P/E of 24.44, so we one might conclude that TGT is trading at a discount comparatively.

Investors should also note that TGT has a PEG ratio of 1.59 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TGT's industry had an average PEG ratio of 1.99 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 20, which puts it in the top 8% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


Time to Invest in Legal Marijuana

If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.

You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

Today, Download Marijuana Moneymakers FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Target Corporation (TGT): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue