Target stock plunges after 'unexpected softness'
- Author: Zachary Reyes Feb 28, 2017,
Feb 28, 2017, 16:22
Target Corporation (NYSE:TGT) is scheduled to open its Ala Moana Center store in part of the former Nordstrom space in October, the mall said this week. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. That was a disappointment versus analyst expectations for earnings of $1.51 per share of Target stock and revenue of $20.71 billion.
Several research analysts have recently commented on the company.
On the last day of the month, Target Corp.is expected to deliver its earnings for the fourth-quarter before the opening bell.
In related news, Director Roxanne S. Austin sold 3,957 shares of the stock in a transaction on Friday, December 2nd.
Under Target Chair and CEO Brian Cornell, Target has pushed aggressively online and increased the number of stores that ship directly to online shoppers to match Amazon's two-day free deliveries for customers. Zacks Investment Research upgraded Prospect Capital Corporation from a "sell" rating to a "hold" rating in a research report on Thursday, January 19th. The shares were sold at an average price of $77.87, for a total value of $308,131.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
The Company now has Insider ownership of 0.1 Percent and Institutional Ownership of 87.2 Percent. Ltd. now owns 60,971 shares of the retailer's stock valued at $4,188,000 after buying an additional 55,143 shares during the last quarter. Finally, RDL Financial Inc. purchased a new stake in Target Corporation during the second quarter worth $315,000. Riverhead Capital Management LLC boosted its position in shares of Target Corporation by 2,069.6% in the third quarter. According to their observations and findings, the stock could provide a high EPS of $1.49/share and a Low EPS of $1.22/share.
Target will not have much to boast for its current quarter, as same-store sales excluding e-commerce declined over 3% during the key holiday period as aforementioned. Finally, Mizuho Trust & Banking Co. Additionally, Guggenheim Initiated its ratings on the stock to Neutral. Hedge funds and other institutional investors own 88.53% of the company's stock. Analysts' consensus revenue estimate was $20.70 billion. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & worldwide trademark and copyright laws. The legal version of this article can be read at https://www.thecerbatgem.com/2017/02/27/target-corporation-tgt-receives-73-56-consensus-pt-from-analysts.html.
On 24 February 2017, Target Corporation (NYSE:TGT) shares moved to $66.51 after starting the day at $65.26. The company's market cap is $37.36 Billion. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.99%. Target Corporation's dividend payout ratio is presently 42.93%.