logo
  Join        Login             Stock Quote

Target (TGT) Boosts Earnings Forecast After 1Q Results; Shares Rise

 May 16, 2012 07:45 AM
 


Target Corp. (NYSE:TGT) shares added 3.3 percent in premarket trading on Wednesday after the discount retail giant raised its earnings forecast following better-than-expected first-quarter results.

Adjusted earnings per share increased 11.5 percent to $1.11 from $0.99, beating market expectations of $1.01. Net earnings rose 1.2 percent to $697 million.

Total revenue grew 6 percent to $16.9 billion versus consensus estimate of $16.8 billion. Sales gained 6 percent, while credit card revenue dropped 7 percent.

Looking ahead for the second quarter, Minneapolis-based Target sees adjusted earnings per share between $1.04 and $1.14, coming in above consensus estimate of $0.99. 

For the full year, the company raised its earnings per share forecast by 5 cents to $4.60 to $4.80, while analysts expect $4.28.

TGT shares closed Tuesday's regular trading at $55.08. The stock has been trading in the 52-week range of $45.28 to $58.95.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article image3 Stocks With 100% Upside

Biotech stocks had a banner year in 2014. Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), Avanir read on...

article imageUpside Risks Are the Riskiest

For long-term investors, upside market risk has forever been the most dangerous read on...

article imageGrexit: It Is Not The Debt, It Is The Future.

A follow up to my previous post now that we know that the Syriza party has won the election. What comes read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.