Earnings Notes - Target

LONDON, December 10, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings notes on Target Corp. (NYSE: TGT). On November 19, 2014, the company reported its financial results for Q3 FY14 (period ended November 01, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Target Corp. (Target). In Q3 FY14, the company's sales and GAAP diluted EPS increased 2.8% and 2.7%, respectively, on a Y-o-Y basis. The chairman and CEO of Target, Brian Cornell, stated that the company is pleased with its Q3 FY14 financial results, which were driven by better-than-expected performance in Target's U.S. Segment. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Target's sales grew to $17.73 billion from $17.26 billion in Q3 FY13. The company's reported sales outperformed Bloomberg analysts forecasts of $17.56 billion. Target's US segment sales for Q3 FY14 increased 1.9% Y-o-Y to $17.25 billion from $16.93 billion in Q3 FY13, reflecting a 1.2% Y-o-Y increase in comparable sales combined with sales from new stores. Further, the company's Q3 FY14 Canadian segment sales rose 43.8% Y-o-Y to $479 million from $333 million in Q3 FY13, reflecting sales from non-mature stores and a comparable-sales increase of 1.6% on Y-o-Y basis. The free research on TGT can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Target&d=10-Dec-2014&s=TGT

Target's Q3 FY14 GAAP net earnings increased to $352 million, or $0.55 per diluted share, from $341 million, or $0.54 per diluted share, in Q3 FY13. Analysts from Bloomberg had expected the company to report GAAP earnings of $292 million, or $0.46 per diluted share. On an adjusted basis, the company's Q3 FY14 earnings per sharedecreased 2.9% Y-o-Y to $0.54 from $0.56 per share in Q3 FY13. However, Target's Q3 FY14 adjusted EPS was above its expected range of $0.40 to $0.50 per share.

Mr. Cornell said that the company is encouraged by the improving trend it has seen in its US business throughout the year, and the company's Q4 FY14 plans are designed to sustain this momentum. He added that, in Canada, the company has made improvements to its operations, pricing and assortment in time for the holiday season, and the company is eager to measure how its guests respond. The CEO concluded by saying that the entire company is energized as it approaches the peak of the holiday shopping season, and is looking forward to delivering an outstanding store and digital experience to its guests. Sign up and read the free analyst's notes on TGT at:

http://get.Investor-Edge.com/pdf/?c=Target&d=10-Dec-2014&s=TGT

During the reported quarter, Target paid dividends of $330 million an increase of 21.4% from $271 million in the corresponding period of prior year.

In Q4 FY14, the company expects adjusted EPS of $1.13 to $1.23, reflecting operating results in its US and Canadian Segments. Further, for full-year FY14, Target expects adjusted EPS of $3.15 to $3.25, while, its full-year FY14 GAAP EPS is expected to be 45 cents below adjusted EPS.

Stock Performance  

On the day of the earnings release, November 19, 2014, Target's stock rallied 7.39%, ending the session at $72.50. The stock has mostly witnessed a positive momentum since then. On the last close, Tuesday, December 09, 2014, it finished at $73.60, 0.24% below its previous day's closing price of $73.78, after vacillating between $72.40 and $73.63. A total of 3.37 million shares were traded, which was below its three months average volume of 4.99 million shares. Over the last one month and over the previous three months, the company's shares have surged 14.70% and 20.89%, respectively. Further, the stock has gained 16.33% since the start of this year. Shares in Target closed above their 50-day and 200-day moving averages of $65.19 and $61.11, respectively. Furthermore, the stock traded at a PE ratio of 25.71 and has a Relative Strength Index (RSI) of 73.67. Visit Investor-Edge and access the latest research on TGT at:

http://get.Investor-Edge.com/pdf/?c=Target&d=10-Dec-2014&s=TGT

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 17 insider transactions made by 6 individuals. Between November 20, 2014 and December 02, 2014, a total of 90,895 shares have been purchased at an average price of $52.61 per share, for a total value of $4.78 million, and a total of 91,746 shares, worth $6.63 million, were disposed at an average price of $72.24 per share. These are some of the insider trading transactions: on November 20, 2014, Anne M. Mulcahy, and James A. Johnson, Directors at Target, purchased 8,093 shares each at $49.43 per share, and on the same day, Ms. Mulcahy and Mr. Johnson sold equal number of shares at $71.06 and $70.77 per share, respectively. On November 21, 2014, Laysha L. Ward, President of Community Relations at Target, bought and sold 6,948 shares at $53.98 and $71.34, respectively. Moreover, on the same day, Calvin Darden, Director at Target purchased and disposed 8,093 shares at $49.43 and $71.29, respectively. On December 02, 2014, Tina M. Schiel, Executive Vice President and Chief Stores Officer at Target, bought 59,668 shares at an average price of $53.74 per share, and on the same day, she disposed an equal number of shares at $72.82 per share. Complimentary in-depth research on TGT is available at:

http://get.Investor-Edge.com/pdf/?c=Target&d=10-Dec-2014&s=TGT

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE Investor-Edge