Target Corp (TGT) reported an earnings miss for its 3rd quarter, ending 10/31/2022. Earnings per share came in at $1.54, versus the expected $2.16.
The reported revenue of $26.52 billion represents growth of 1.85% compared to the previous quarter, and growth of 3.38% compared to the same period last year.
For the 4th quarter, analysts project earnings of $2.43 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for TGT stock.
What’s Next for Target Corp, Post-Earnings?
According to TipRanks, the average analyst consensus on TGT stock is a Moderate Buy. This consensus is based on 16 analyst ratings made in the past 3 months. Target Corp’s average price target of $186.87 implies upside potential of 20.20% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings miss can signify negative movement ahead for a stock’s price. Currently, TGT price is $155.47, indicating a 5-day drop of -9.74%.
About Target Corp
Founded in 1902, Target Corp. is a Minnesota-based general merchandise retailer and has stores in all 50 U.S. states and the District of Columbia. Its stores offer curated general merchandise and food assortments including perishables, dry grocery, dairy, and frozen items..
Learn more about TGT financials here
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