Free Research Report as Target Reported Better than Expected Results

Stock Monitor: Big Lots Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 28, 2017 / Active-Investors.com has just released a free earnings report on Target Corp. (NYSE: TGT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TGT. Target posted its third quarter fiscal 2017 results on November 15, 2017. The leading general merchandise retailer’s comparable digital sales increased approximately 24% in Q3 FY17. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Big Lots, Inc. (NYSE: BIG), which also belongs to the Services sector as the Company Target. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=BIG

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Target most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=TGT

Earnings Highlights and Summary

Target posted revenues of $16.67 billion in Q3 FY17 compared to $16.44 billion in Q3 FY16, reflecting growth of 1.37% y-o-y. Revenue numbers topped analysts’ estimates of $16.61 billion.

The Company had gross margin of $4.95 billion in the reported quarter compared to $4.91 billion in Q3 FY16, advancing 1.02% on a y-o-y basis. Target posted selling, general, and administrative (SG&A) expenses of $3.51 billion in the reported quarter compared to $3.34 billion in Q3 FY16, advancing 5.18% y-o-y. In Q3 FY17, the Company’s debit and credit card penetration was flat at 12.90% and 11.40%, respectively.

Target had net earnings of $480.00 million in Q3 FY17 compared to $608.00 million in Q3 FY16, declining 21.05% on a y-o-y basis. Diluted net earnings were $0.88 per share in the reported quarter compared to $1.06 per share in Q3 FY16, declining by 16.98% on a y-o-y basis, due to higher cost of sales, sales, general, and administrative expenses and higher interest expense. Adjusted earnings were $0.91 per share, which surpassed analysts’ estimates of $0.86 per share.

Segment Details

Target’s Comparable digital channel sales segment grew 24.00% approximately on a y-o-y basis. The segment’s profit was $869.00 million in Q3 FY17 compared to $1.06 billion in Q3 FY16, declining by 17.78% y-o-y. Target’s earnings before interest and tax (EBIT) margin was 5.20% in the reported quarter compared to 6.40% in Q3 FY16, declining due to high digital fulfillment costs and higher promotion costs incurred. In Q3 FY17, out of the total products sold by Target, 95.70% were sold via stores channel and rest 4.30% were sold through digital channel compared to total products sold in Q3 FY16, 96.50% were sold via stores channel and remaining 3.50% were sold through digital channel.

Cash Matters

In Q3 FY17, Target had cash and cash equivalents of $2.27 billion on October 28, 2017, compared to $1.23 billion on October 29, 2016. The cash inflow from operating activities was $4.49 billion for nine months period ending October 28, 2017, compared to $2.88 billion for the same period ending October 29, 2016.

In Q3 FY17, the Company made share repurchases of $171.00 million, inclusive of an accelerated share repurchase agreement that retired 2.80 million shares of common stock at an average price of $57.78. Target paid $339.00 million worth dividends in the reported quarter compared to $345.00 million paid in Q3 FY16. The Company declared a quarterly dividend of $0.62 per share, payable December 10, 2017, to shareholders of record at the close of business November 15, 2017. The Company still holds $4.00 billion worth of shares remaining under its $5.00 billion share buyback program.

Guidance

In Q4 FY17, Target anticipates adjusted EPS in the range of $1.05 to $1.25 per share and adjusted EPS of $1.05 to $1.25. For fiscal 2017, the Company expects GAAP EPS in the band of $4.38 to $4.58 per share and adjusted EPS in the range of $4.40 to $4.60 per share.

Stock Performance Snapshot

December 27, 2017 – At Wednesday’s closing bell, Target’s stock fell 1.03%, ending the trading session at $65.14.

Volume traded for the day: 3.51 million shares.

Stock performance in the last month – up 16.65%; previous three-month period – up 10.65%; and past six-month period – up 25.12%

After yesterday’s close, Target’s market cap was at $35.47 billion.

Price to Earnings (P/E) ratio was at 13.67.

The stock has a dividend yield of 3.81%.

The stock is part of the Services sector, categorized under the Discount, Variety Stores industry. This sector was flat at the end of the session.

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