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Target Boosts FY19 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, retailer Target Corp. (TGT) initiated adjusted earnings and comparable sales guidance for the fourth quarter as well as raised adjusted earnings guidance for the full-year 2019.

For the fourth quarter, Target expects comparable sales growth of 3 to 4 percent, with earnings from continuing operations in a range of $1.55 to $1.75 per share and adjusted earnings in a range of $1.54 to $1.74 per share.

Looking ahead to fiscal 2019, the retailer now projects earnings from continuing operations in a range of $6.27 to $6.47 per share and adjusted earnings in a range of $6.25 to $6.45 per share.

Previously, the company expected both earnings from continuing operations and adjusted earnings in the range of $5.90 to $6.20 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.65 per share for the fourth quarter and $6.18 per share for the year. Analysts' estimates typically exclude special items.

Additionally, the company reported third-quarter comparable sales growth of 4.5 percent on traffic growth of 3.1 percent. Comparable store sales grew 2.8 percent, and comparable digital sales grew 1.7 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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