Target: Fiscal 3Q Earnings Snapshot
Posted Nov 20, 2018 07:40:52 AM.
This article is more than 5 years old.
MINNEAPOLIS (AP) _ Target Corp. (TGT) on Tuesday reported fiscal third-quarter net income of $622 million.
On a per-share basis, the Minneapolis-based company said it had net income of $1.17. Earnings, adjusted for pretax gains and to account for discontinued operations, were $1.09 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The retailer posted revenue of $17.82 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $17.81 billion.
Target expects full-year earnings in the range of $5.30 to $5.50 per share.
Target shares have increased 19 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 1 per cent. The stock has risen 34 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TGT at https://www.zacks.com/ap/TGT
The Associated Press
