Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead



Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News


OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Target Is Looking Stronger After an Impressive Q3

Target Corporation (NYSE:TGT), a leading American retail giant, unveiled its third-quarter financial results last week, which showed off its resilience in a challenging retail environment. The company, known for its wide range of consumer goods from groceries to apparel, has managed to beat market expectations, resulting to a big jump in its share price.

For the period ending Oct. 28, Target’s revenue of $25.4 billion came in better than analyst expectations of $25.2 billion. And its adjusted earnings per share totaled $2.1 and easily surpassed Wall Street’s forecast of $1.5.

Target, however, remains cautiously optimistic about the future. The company forecasts that for the current quarter, there will be a mid-single-digit decline in its comparable sales. But the good news for Target is that it has improved its inventory levels, which are down to $14.7 billion versus $17.1 billion this time last year. Excess inventory was a big problem for the company, and when that happens, retailers may have to rely heavily on discounts or may need to dispose of unsold merchandise.

Shares of Target jumped on the positive results but year to date, the stock remains down around 12%. Trading at less than 17 times earnings and paying a dividend that yields 3.4%, this can, however, be a good value pick for long-term investors. Although there may be some challenging economic conditions ahead, Target’s operations are looking better than they were a year ago. And in the long run, there should be more growth ahead for the retail giant.