قالب وردپرس درنا توس
Home / Business / The target of the stock shoots at record high earnings and earnings, lifted the guidance

The target of the stock shoots at record high earnings and earnings, lifted the guidance



Shares of Target Corp.

TGT, -0.40%

rose 8.8% to a record high in premarket trading on Wednesday, after the discount trader reported third-quarter financial revenue and revenue that exceeded expectations and lifted the outlook for the full year. Net income for the quarter to November 2 rose to $ 714 million, or $ 1.39 per share, from $ 622 million, or $ 1.17 per share, the previous year. Excluding one-off items, adjusted earnings per share grew to $ 1.36 from $ 1.09, well above the $ 1.19 FactSet consensus. Revenue increased 4.7% to $ 1

8.67 billion to beat the FactSet consensus of $ 18.45 billion, as same-store sales rose 4.5% to exceed expectations of 3.7% growth. For the fourth quarter, Target expects adjusted EPS of $ 1.64 to $ 1.74 and same-store sales growth of 3% to 4%, compared to $ 1.65 EPS FactSet consensus and same-store sales growth of 3.3 %. For 2019, Target lifted the adjusted EPS guidance range to $ 6.25 to $ 6.45 from $ 5.90 to $ 6.20. The stock has seen a 67.7% increase so far today through Tuesday, while the SPDR S&P Retail ETF

XRT, -1.94%

got 7.2% and S&P 500

SPX, -0.06%

has climbed 24.5%.


Source link