Target posted its fiscal fourth quarter earnings that crushed analysts’ expectations.
The big box retailer’s adjusted earnings came in at $3.19 per share, surpassing $2.86 expected by analysts polled by Refinitiv.
Revenue for the quarter was $31 billion, vs. $31.39 billion expected.
Comparable sales, the metric that measures sales online and at stores open at least a year, rose +8.9% in the fourth quarter. That’s lower than the 10.5% expected by analysts, according to StreetAccount.
In fiscal 2023 and beyond, Target projects annual revenue growth in the mid single digits and adjusted earnings per share in the high single digits. The company plans to spend $4 billion to $5 billion on capital expenditures each year.
The 10-day RSI Oscillator for TGT moved out of overbought territory on April 03, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 instances where the indicator moved out of the overbought zone. In of the 40 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
The Momentum Indicator moved below the 0 level on April 09, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on TGT as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for TGT turned negative on April 03, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 38 similar instances when the indicator turned negative. In of the 38 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TGT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 55 cases where TGT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where TGT advanced for three days, in of 331 cases, the price rose further within the following month. The odds of a continued upward trend are .
TGT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 272 cases where TGT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.653) is normal, around the industry mean (10.318). P/E Ratio (18.394) is within average values for comparable stocks, (23.674). Projected Growth (PEG Ratio) (2.536) is also within normal values, averaging (2.875). Dividend Yield (0.027) settles around the average of (0.024) among similar stocks. P/S Ratio (0.709) is also within normal values, averaging (1.216).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TGT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 50, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a department and discount store
Industry DiscountStores