logo
  Join        Login             Stock Quote

Target (TGT) Q3 Earnings Up 15 Pct, Guides Above Consensus

 November 15, 2012 08:06 AM
 


 

(By Balachander) Target Corp. (NYSE: TGT) posted an increase in quarterly earnings, helped by higher sales and a sales gain and the discount chain guided fourth-quarter above consensus.

On an adjusted basis, earnings per share (EPS) grew 4.3 percent to 90 cents for the third quarter ended October.

Net earnings increased 15 percent to $637 million. Results included a 15-cent gain from the pending sale of the company's credit-card receivables portfolio.

Total revenue rose 3.2 percent to $16.93 billion and sales gained 3.4 percent. Credit card revenue declined 5.8 percent.

Wall Street analysts, on average, expected TGT to earn 79 cents a share on sales of $16.93 billion.

[Related -Check Point Software Technologies Ltd. (NASDAQ:CHKP): What Could Drive Check Point In 2014?]

U.S. Retail segment sales grew 3.4 percent on a 2.9 percent rise in comparable-store sales and contribution from new stores.

Looking ahead for the fourth quarter, the Minneapolis-based company expects adjusted EPS in the range of $1.64 to $1.74, while analysts expect $1.51.

The stock, which has been trading in the 52-week range of $47.25 to $65.80, ended at $61.38 on Wednesday.

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 imageHow the Chinese Slowdown Will Impact Your Investments

Most countries would find a quarterly growth rate of 7.3% a cause for a read on...

article imageHow To Profit From Foreign Investment In Real Estate

Though investors don't always capitalize on it, history has a way of repeating itself. In fact, when I saw read on...

article imageAnother Round Of Upbeat US Macro Reports

The US economy grew faster than expected in this year’s third quarter, according to this morning’s read on...

article imageDistinguishing The Fed's Securities Purchases From Monetary Expansion

There has been a bit of confusion about what today's FOMC announcement means with respect to Quantitative 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.