Target (NYSE:TGT) earnings for the fourth quarter of 2019 have TGT stock slightly down on Tuesday. This is after reporting revenue of $23.4 billion, which is just below Wall Street’s estimate of $23.49 billion. However, the company reported adjusted earnings per share (EPS) of $1.69, while analysts were expecting adjusted per-share earnings of $1.65 for the quarter.
The following is what else is worth mentioning from the most recent Target earnings report.
- Adjusted EPS was up 10.5% from $1.53 during Q4 2018.
- Revenue for the quarter comes in 1.8% higher compared to $22.98 billion during the same time last year.
- Operating income of $1.2 billion is 7.1% better year-over-year than $1.12.
- The Target earnings report also includes a net income of $834 million.
- That’s 4.4% better than $799 million from the fourth quarter of 2018.
Brian Cornell, chairman and CEO of Target, said this about the TGT stock earnings report:
“With eleven consecutive quarters of positive comparable sales growth, driven by healthy performance in both our stores and digital channels, Target’s results demonstrate that we’ve built a sustainable business model that drives strong topline growth and consistent bottom line performance.”
The Target earnings report includes guidance for fiscal year 2020, where the company expects net revenues “ low-single digit increase in comparable sales” and a “mid-single digit increase in operating income.” Moreover, TGT is expecting adjusted EPS of $6.70 to $7, while Wall Street is expecting adjusted EPS of $6.88.
TGT stock was up down 3.4% as of Monday morning.
As of this writing, Nick Clarkson did not hold a position in any of the aforementioned securities.