Target Q3 Adj. EPS Guidance $1.20-1.60 Vs, $1.84 Estimate
Portfolio Pulse from Benzinga Newsdesk
Target has revised its Q3 and full-year guidance downwards. The company now expects Q3 GAAP and Adjusted EPS of $1.20 to $1.60, compared to the previous estimate of $1.84. Full-year GAAP and Adjusted EPS are now expected to be between $7.00 and $8.00, down from the prior range of $7.75 to $8.75. Target also expects a mid-single digit decline in comparable sales for the remainder of the year.
August 16, 2023 | 10:34 am
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NEGATIVE IMPACT
Target's downward revision of its Q3 and full-year guidance could negatively impact its stock price in the short term. The company's expectation of a mid-single digit decline in comparable sales also indicates potential challenges.
Target's downward revision of its earnings guidance is a negative signal to investors, indicating that the company's financial performance may not meet previous expectations. This could lead to selling pressure on the stock, driving its price down in the short term. The expected decline in comparable sales further underscores potential challenges in the company's operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100