FMP
May 22, 2024 12:51 PM - Davit Kirakosyan
Target's (NYSE:TGT) shares fell over 8% in pre-market today after the company released its latest quarterly earnings, which did not meet profit expectations.
The retailer reported Q1 earnings per share (EPS) of $2.03, falling short of the $2.06 analyst estimate. The quarter's revenue was $24.53 billion, slightly above the $24.51 billion Street estimate.
Compared to the same quarter last year, Target's revenue dropped by 3.1%, and comparable sales decreased by 3.7%. However, digital comparable sales increased by 1.4%, and same-day services grew by nearly 9%, mainly due to a 13% increase in Drive Up.
Brian Cornell, Target Corporation's chair and CEO, noted that the first-quarter financial performance met expectations for both revenue and profit, aligning with the company's projections for the year and setting the stage for growth in the second quarter. He also mentioned the successful relaunch of the Target Circle loyalty program, which gained over 1 million new members during the quarter.
Looking forward, Target predicts a 0 to 2 percent increase in comparable sales for the second quarter, with adjusted EPS expected to be between $1.95 and $2.35. For the full year, the company anticipates a similar rise in comparable sales and an adjusted EPS range of $8.60 to $9.60.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...