Target jumps in premarket as second quarter is seen ahead of guidance

Target jumps in premarket as second quarter is seen ahead of guidance

Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer's stock worth $1,349,000 after buying an additional 4,685 shares in the last quarter. WealthTrust Fairport LLC now owns 5,958 shares of the retailer's stock valued at $329,000 after buying an additional 55 shares in the last quarter.

Target's shares rose as much as 3.56 percent to $52.69 in the early trading in NY. Peoples Financial Services CORP. boosted its position in Target Corporation by 116.7% in the first quarter. Finally, Penserra Capital Management LLC boosted its position in Target Corporation by 9.5% in the first quarter.

The retailer's shares were up 5.4 percent at $53.61 in premarket trading. Target Corporation (TGT) has a market cap of $29.82 billion and over the last 12 months, Target Corporation (NYSE:TGT) has gone weaker by -27.14%. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Target Corporation also saw unusually large options trading activity on Thursday. Stock traders purchased 38,360 call options on the company. Quarter to quarter Target's same store sales have already improved slightly, but with Target guiding for a positive same store sales number it looks like Target's comps will see a big bump in the next earnings announcement (which will be made in August). During the same quarter in the previous year, the business earned $1.29 earnings per share. It has a return on equity (ROE) of 25.00%. The company previously had projected it would be negative.

Over the last 5 years, Target Corporation has averaged a 1.40% YoY EPS growth rate and a -0.10% revenue growth rate.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. SO's profit will be $690.97 million for 16.89 P/E if the $0.70 EPS becomes a reality. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.65%.

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Target now expects Q2 earnings per share to top its old range of 95 cents to $1.15. Susquehanna initiated Target Corporation (NYSE:TGT) on Friday, February 10 with "Neutral" rating. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of worldwide trademark and copyright laws.

03/02/2017 - Target Corporation had its "market weight" rating reiterated by analysts at BMO Capital Markets.

Several other brokerages have also weighed in on TGT. Vetr downgraded shares of Target Corporation from a "strong-buy" rating to a "buy" rating and set a $60.11 price target for the a research report on Monday, April 10th. BidaskClub downgraded shares of Target Corporation from a "hold" rating to a "sell" rating in a research report on Tuesday, June 20th.

According to the latest research reports released, 2 analysts have issued a rating of "buy", 1 analysts "outperform", 15 analysts "hold", 3 analysts "underperform" and 1 analysts "sell". Target Corporation has a consensus rating of "Hold" and an average target price of $63.76.

In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the business's stock in a transaction that occurred on Wednesday, July 5th. The current share price indicates that stock is -4.57% away from its one year high and is moving 84.83% ahead of its 52-week low. The Company's general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.