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Can Target Turn Things Around This Quarter?

Tuesday, November 15, 2016 15:17
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Retail giant Target Corporation (NYSE:TGT) will report earnings on Wednesday, Nov. 16 after the closing bell. Can the company turn things around, or will its underperformance continue?

Wall Street analysts are looking for Q3 EPS of $0.83 (down from $0.86 in Q3 last year), and revenues of $16.31 billion (a 7.3% drop from 2015). Those estimates shouldn’t be tough to beat, but TGT stock has been hurt badly since touching $84 back in April, so investors might be expecting a miss here.

The one bright spot is that the stock has rallied about 10% since the election, so maybe the markets are signaling a turnaround — or maybe Target is just getting caught up in the proverbial “rising tide that lifts all boats.”

Still, increased competition from Amazon and Wal-Mart, along with a struggling grocery business, have weighed heavily on Target. Those factors led to a weak forecast in last quarter’s report, so investors will be looking for a much better outlook this time around.

Key to the company’s recovery will be margin growth along with store traffic, which it’s addressing with some innovative in-store practices like Signature Categories, store experience, new flex-format stores and an overhaul of its digital business. Same-store sales, as always, will also be a highly important metric to look out for.

Stay tuned tomorrow evening when we’ll have full coverage of TGT’s latest report, including hit or miss numbers, forecast analysis, and much more.

Target shares closed at $71.44 on Tuesday, down $0.73 (-1.01%). Year-to-date, TGT has fallen 1.61%, versus a 7.07% rise in the benchmark S&P 500 during the same period.


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