Discount retailer, Target Corporation(
) reported increased profits, beating analysts estimates
The Minneapolis, MN based company reported third quarter
earnings of $637 million, or 96 cents per share, up 12.8% from last
years earnings of $555 million, or 82 cents per share. Excluding
special items, earnings for the quarter were 81 cents per share,
beating analysts estimates of 77 cents.
Revenue increased to $16.93 billion, from $16.40 billion last
year. Analysts expected revenue of $16.93 billion.
Looking ahead, the company expects to see forth quarter earnings
in the range of $1.45 to $1.55 per share. Analysts are expecting
EPS of $1.51 with $22.66 billion in revenue.
Target shares were up 82 cents, or 1.34% during premarket
trading Thursday. The stock is down -1.03% YTD.
The Bottom Line
Shares of Target (
) have a 2.35% dividend yield, based on last night's closing stock
price of $61.38. The stock has technical support in the $57-$58
price area. The stock is trading near the all-time high range of
$64-$66 a share.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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