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Target Stock Surges 8% on Q4 Beat & Strong Outlook

Target Stock Surges 8% on Q4 Beat & Strong Outlook March 5, 2024, 10:20 a.m., readers: 11

Shares of Target Corporation (NYSE:TGT) surged over 8% in pre-market today following the release of its Q4 results, with earnings per share (EPS) of $2.98 coming in above the analyst's prediction of $2.41. The company's revenue for the quarter stood at $31.9 billion, slightly above the consensus forecast of $31.83 billion. Target experienced a 4.4% decrease in total comparable sales for the November to January period, which was slightly better than the expected 4.6% drop, partly due to a resurgence in Target.com sales. Online sales declined by 0.7% in the fourth quarter, marking an improvement from the 6% decrease observed in the previous quarter. For fiscal 2024, the company anticipates an EPS range of $8.60 to $9.60, beating the Street estimate of $8.44.

About NYSE: TGT

T arget Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Price: 140.28
Market cap: 64.9 billion USD
Eps: 8.93
P/e ratio: 15.71
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