Target Stock: Time to Panic?
There's no question about it. Target (NYSE: TGT) has been one of the most disappointing retail stocks on the market recently. Over the last three years, the stock price fell 39%, while the S 500 has gained 50%.
After another earnings report came in well below both analysts' and the company's expectations, Target seems as far away from a recovery as ever. Comparable sales in the quarter fell 3.8%, which included declines in both traffic and average transaction value. Revenue fell 2.8% in the quarter to $23.85 billion, which missed estimates at $24.35 billion. Gross margin declined from 28.8% to 28.2%. On the bottom line, adjusted earnings per share fell from $2.03 in the quarter a year ago to $1.30. That was well below the consensus at $1.65.
Image source: Target.
Source Fool.com
Target Corp. Stock
Our community is currently high on Target Corp. with 25 Buy predictions and 7 Sell predictions.
However, we have a potential of -0.45% for Target Corp. as the target price of 98 € is below the current price of 98.44 €.
