Somewhat Favorable Media Coverage Likely to Affect Target Corporation (TGT) Stock Price
News coverage about Target Corporation (NYSE:TGT) has trended somewhat positive recently, Alpha One Sentiment Analysis reports. The research firm, a subsidiary of Accern, identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Target Corporation earned a news sentiment score of 0.09 on Alpha One’s scale. Alpha One also gave media headlines about the retailer an impact score of 75 out of 100, indicating that recent media coverage is likely to have an effect on the stock’s share price in the near future.
These are some of the news stories that may have effected Alpha One’s scoring:
- Whole Foods Deal Shows Amazon’s Prodigious Tolerance for Risk – New York Times (nytimes.com)
- 3 Biotech Stocks That Could Become M&A Targets (fool.com)
- TD Asset Management Inc. Has $27.17 Million Stake in Target Corporation (TGT) (badhub.net)
- Insiders Now Seeing Red With TGT At New 52-Week Low (nasdaq.com)
- Target: Friday’s Slide Provides Chance to Buy at ‘Rock Bottom Price’ (finance.yahoo.com)
A number of equities research analysts have recently issued reports on TGT shares. Instinet cut their price objective on shares of Target Corporation to $60.00 in a research note on Wednesday, March 1st. Morgan Stanley cut their price objective on shares of Target Corporation from $65.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, March 1st. Stifel Nicolaus cut their price objective on shares of Target Corporation from $72.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, March 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Target Corporation in a research note on Wednesday, March 1st. Finally, Goldman Sachs Group, Inc. (The) set a $53.00 price objective on shares of Target Corporation and gave the company a “sell” rating in a research note on Wednesday, March 1st. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.68.
Shares of Target Corporation (NYSE:TGT) traded down 5.14% on Friday, hitting $52.61. 49,491,703 shares of the company traded hands. The firm’s 50-day moving average is $55.81 and its 200 day moving average is $61.88. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a market capitalization of $29.03 billion, a P/E ratio of 10.78 and a beta of 0.58. Target Corporation also saw unusually large options trading activity on Friday. Stock traders acquired 4,936 call options on the company. This is an increase of 262% compared to the average daily volume of 1,363 call options.
Target Corporation (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Target Corporation will post $4.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be paid a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.71%. Target Corporation’s dividend payout ratio is 48.98%.
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About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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