Target Corp. (NYSE: TGT) will report its third-quarter earnings Wednesday before the market open. Thomson Reuters has consensus estimates of $0.47 in earnings per share and $17.56 billion in revenue. In the third quarter of the previous year, Target posted $0.56 in earnings per share and $17.26 billion in revenue.
Last year, Target had a difficult holiday season due to a data breach reported just before Christmas. This year, Target again plans to hire more than 70,000 workers, just as it did last year.
The retailer also plans to again begin its Black Friday sale at 6 p.m. on Thanksgiving, according to a company press release. Last year, the company opened its stores at 8 p.m. on Thanksgiving. In addition to opening early, Target is offering free shipping for all online orders placed through December 20. E-commerce has been a point of emphasis for the chain. In the second quarter of fiscal 2014, digital sales were up 30% from the same quarter the year before.
Total store sales for the final two months of 2014 are expected to rise only 4%. Stifel upgraded Target to a Buy rating from Hold with a price target of $76 on November 10.
ALSO READ: 5 Top Retail Stock Picks for the Holiday Shopping Season
Target’s share price fell below its 50-day moving average during the market sell-off in mid-October and bounced off the 200-day moving average to test the 50-day moving average again. After testing the 50-day moving average for about two weeks, shares crossed over and shot up to a 52-week high of $68.28. The 50-day moving average read at $62.21 and the 200-day moving average read at $59.08.
Shares of Target were down about 0.5% at $66.82 in the noon hour Tuesday. The consensus analyst price target is $61.04, and the 52-week trading range is $54.66 to $68.28. The market cap is near $42 billion.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.