Target CorporationTGT , the leading department store retailer, came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings from continuing operations of $1.37 per share missed the Zacks Consensus Estimate by 2 cents and also declined 5.8% year over year.
For fiscal 2018, Target now envisions adjusted earnings in a band of $5.15-$5.45. For the first quarter of fiscal 2018, the company expects adjusted earnings per share in the range of $1.25-$1.45. The Zacks Consensus Estimate for fiscal 2018 is $5.28 and first quarter is $1.40.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 remained stable in the last 30 days. In the trailing four quarters, excluding quarter under review, the company has outperformed the Zacks Consensus Estimate by an average of 10.3%.
Target Corporation Price, Consensus and EPS Surprise
Revenues: Target generated net sales of $22,766 million that increased 10% year over year and outpaced the Zacks Consensus Estimate of $22,463 million. Comparable store sales gained 3.6% during the quarter.
Key Events: Target returned about $591 million to its shareholders in the form of share repurchases and dividend payments in the fiscal fourth quarter. The company bought back shares worth $254 million and paid dividends of $337 million in the reported quarter.
Zacks Rank: Currently, Target carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Stock Movement: Target's shares are down nearly 3.3% during the pre-market trading hours following the earnings release.
Check back later for our full write up on Target's earnings report!
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