Target Reports Q3 Earnings Beat, Raises Guidance

Target TGT shares are trading higher following third-quarter earnings beat. The company beat EPS and sales estimates, reported strong digital channel sales growth and raised fiscal year 2019 guidance.

The company reported third-quarter earnings of $1.36 per share, which beat the analyst consensus estimate of $1.19 by 14.29%. This is a 24.77% increase over earnings of $1.09 per share from the same period last year.

Target reported quarterly sales of $18.7 billion, which beat the analyst consensus estimate of $18.49 billion by 1.14%. This is a 4.93% increase over sales of $17.821 billion the same period last year.

The company raised 2019 adjusted EPS guidance from $5.90-$6.20 to $6.25-$6.45.

Target shares were trading up 9.8% at $120.65 in Wednesday’s pre-market session. The stock has a 52-week high of $90.39 and a 52-week low of $60.15.

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