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Target Falls on Big EPS Miss, Analyst Says Results are 'Disappointing'

By Senad Karaahmetovic Shares of Target (NYSE:TGT) are down nearly 3% after the retailer reported Q2 results that missed the average analyst estimate. Target delivered an...
Target Falls on Big EPS Miss, Analyst Says Results are 'Disappointing' © Reuters. Target (TGT) Falls on Big EPS Miss, Analyst Says Results are 'Disappointing'

By Senad Karaahmetovic

Shares of Target (NYSE:TGT) are down nearly 3% after the retailer reported Q2 results that missed the average analyst estimate.

Target delivered an adjusted EPS of $0.39, a big miss compared to the consensus of $0.72. Sales came in at $25.65 billion, again lower than the estimate of $25.84 billion. The gross margin was reported at 21.5% while analysts were looking for 23.9%.

The company reiterated its prior view of full-year revenue growth coming "in the low- to mid-single digit range".

"While the company is planning cautiously for the remainder of the year, current trends support the company’s prior guidance for full-year revenue growth,” Target added.

A JPMorgan analyst commented that said results were “neutral”.

“Net-net, there are a number of cross currents in TGT’s release that we view positively although as we noted for LOW earlier there could be remnant topline risk in 2H. Indeed, comps were in-line and a little better than our previewed 2% bar but GM and EPS were much worse. We believe the right way to interpret that is that inventories are clean,” he said in a client note.

A Goldman Sachs analyst noted a Q2 miss, driven by weaker gross margins.

“We expect the stock to trade lower due to the 2Q miss (given two previous guide downs) and still elevated inventory, but note the positive top line trends including traffic growth and unit share gains along with reiterated guidance,” she wrote in a note.

For a Stifel analyst, the Q2 results were “disappointing”, although he is more positive on the guidance front.

“Maintained F2H guidance indicates the company expects a meaningful improvement in trends, and which we view as most notable and important for investors suggesting greater management visibility. We anticipate TGT shares are unlikely to move materially on the result.”

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

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GBP/USD

1.2475

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

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2,295.80

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4.5305

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Adidas AG

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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Cập nhật lúc 10:45:15 01/05/2024
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