Target Corporation Reports Q3 Earnings Results for FY2024

November 20, 2023

🌥️Earnings Overview

On November 15 2023, TARGET CORPORATION ($NYSE:TGT) reported their financial results for the third quarter of FY2024 ending on October 31 2023. Total revenue was USD 25398.0 million, a 4.2% decrease from the same period the year before. Despite this, net income saw a 36.4% increase on a year-over-year basis, reaching USD 971.0 million.

Stock Price

The stock opened at $126.1 and closed at $130.5, representing a 17.8% increase from its previous closing price of $110.8. Target Corporation‘s impressive earnings results came as a surprise to many market analysts, who had been expecting a slight decrease in earnings due to the ongoing pandemic. Yet despite the challenging conditions, Target Corporation managed to exceed analyst expectations and deliver strong growth for the quarter. This demonstrates that Target Corporation is well-positioned to continue with its growth trajectory even amidst the pandemic and economic downturn. This is a clear indication that the company’s ongoing investments in digital technology are paying off and that it is well-positioned to capitalize on the growing trend toward online shopping.

Overall, Target Corporation’s impressive third-quarter earnings results demonstrate that the company is still on track to achieve its long-term growth objectives despite the challenging macroeconomic environment. This bodes well for the company’s future and is likely to keep investors optimistic about its prospects. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Target Corporation. More…

    Total Revenues Net Income Net Margin
    106.89k 3.63k 3.4%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Target Corporation. More…

    Operations Investing Financing
    8.8k -5.11k -2.73k
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Target Corporation. More…

    Total Assets Total Liabilities Book Value Per Share
    56.23k 43.72k 27.11
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Target Corporation are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    6.4% -5.4% 4.8%
    FCF Margin ROE ROA
    3.4% 25.9% 5.6%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale recently conducted an analysis of TARGET CORPORATION‘s wellbeing and used the Star Chart which revealed that TARGET CORPORATION is strong in asset and profitability, medium in dividend, and weak in growth. Furthermore, they have a high health score of 8/10 considering their cashflows and debt, which suggests that they are capable of paying off their debt and can fund future operations. We classified TARGET CORPORATION as a ‘cow’, a type of company we conclude has the track record of paying out consistent and sustainable dividends. We believe that such a company might be attractive to investors who prefer consistent and steady returns with low risk. These investors may appreciate the potential of TARGET CORPORATION to generate consistent cash flow and return on investment. In addition, investors who prefer to invest in companies with a long-term dividend policy may be interested in TARGET CORPORATION for its potential to pay out dividends for years to come. More…

  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    Its competitors are Walmart Inc, Costco Wholesale Corp, and Dollar Tree Inc. All of these companies offer similar products and services, but each has its own unique selling proposition.

    – Walmart Inc ($NYSE:WMT)

    Walmart Inc is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Bentonville, Arkansas, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969. As of January 31, 2020, Walmart has 11,484 stores and clubs in 27 countries, operating under 55 different names. The company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, and as Best Price in India. It has wholly owned operations in Argentina, Chile, Canada, and South Africa. Since August 2018, Walmart holds only a minority stake in Walmart Brasil, with 20% of the company’s shares, and private equity firm Advent International holding 80%.

    – Costco Wholesale Corp ($NASDAQ:COST)

    Costco Wholesale Corporation is a membership-only warehouse club that provides a wide selection of merchandise. They carry brand-name merchandise at substantially lower prices than are typically found at conventional wholesale or retail sources. Costco Wholesale Corporation operates in the United States, Canada, the United Kingdom, Japan, South Korea, Taiwan, and Mexico. As of 2022, the company had a market cap of 211.64B and a return on equity of 24.62%. Costco Wholesale Corporation is a publicly traded company listed on the Nasdaq Global Select Market under the ticker symbol COST.

    – Dollar Tree Inc ($NASDAQ:DLTR)

    Dollar Tree Inc is a retail company that operates dollar stores across the United States. The company has a market cap of $32.16 billion as of 2022 and a return on equity of 15.97%. Dollar Tree stores offer a variety of merchandise, including food, household goods, and health and beauty products. The company has been in operation for over 30 years and has a strong reputation for providing quality products at low prices.


    TARGET CORPORATION reported its quarterly earnings for Q3 FY2024 as of October 31 2023 with total revenue of USD 25398.0 million, a 4.2% decrease compared to the same period the year before.

    However, the net income rose 36.4% year over year to USD 971.0 million. This news sent the company’s stock price up the same day, making it an attractive investment opportunity. Considering its amount of revenue and profitability, this company can be seen as a safe and secure investment for long-term investors as well as short-term traders. Furthermore, the company’s healthy and balanced cash flow should make it a good consideration for any investor.

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