{"id":6050,"date":"2023-05-09T01:30:40","date_gmt":"2023-05-09T05:30:40","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/citi-sees-target-topping-q1-eps-consensus-estimates\/"},"modified":"2023-05-09T01:30:41","modified_gmt":"2023-05-09T05:30:41","slug":"citi-sees-target-topping-q1-eps-consensus-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=6050","title":{"rendered":"Citi sees Target topping Q1 EPS consensus estimates"},"content":{"rendered":"
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\u00a9 Reuters. Citi sees Target (TGT) topping Q1 EPS consensus estimates<\/span>
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Citi analysts reiterated a Buy rating and $177 price target on Target <\/span><\/span> (NYSE:) in a note Monday, stating that they expect the company to top consensus estimates when it reports earnings later this month.<\/p>\n

“We are at $1.91 vs consensus of $1.79 and guidance of $1.50-1.90,” the analysts said. “We model 1Q comps -1.0% vs consensus of +0.5% and guidance of down LSD to up LSD. We model net sales -0.4% vs consensus of +1.0%.”<\/p>\n

The analysts stated that the firm believes the market is looking for comps +2%, while it models EBIT margin of 5.0% vs consensus of 4.6% and guidance of 4-5%.<\/p>\n

“While we are lower than the mkt on sales and slightly lower on GM, we believe they will make it up on SG&A. We expect mgmt to guide 2Q comps to the same broad range as 1Q (-LSD to +LSD) and EPS guidance to bracket consensus (we expect guidance of $1.80-$2.20 vs consensus of $1.97; we are at $2.12E) driven by lower expenses,” the analysts added. “We expect mgmt to reiterate its wide F23 guidance range of $7.75-8.75 vs consensus of $8.45 (and we believe the mkt expects a reiteration).”<\/p>\n

They also noted that Target’s web traffic shows, according to Similarweb, that first-quarter trends are slightly better on average than in 4Q22, with the average traffic -6% in 1Q23 vs -10% in 4Q22.<\/p>\n

In addition, Placer store traffic data shows first quarter foot traffic trends decelerating to -2.5% from +0.3% in 4Q22, with the data “proven to be a strong indicator of TGT sales.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Citi sees Target (TGT) topping Q1 EPS consensus estimates Citi analysts reiterated a Buy rating and $177 price target on Target (NYSE:) in a note Monday, stating that they expect the company to top consensus estimates when it reports earnings later this month. “We are at $1.91 vs consensus of $1.79 and guidance […]<\/p>\n","protected":false},"author":1,"featured_media":6051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-6050","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCiti sees Target topping Q1 EPS consensus estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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