Target Corp (NYSE: TGT)
On Wednesday before the market opened, Target Corp ($TGT) announced third quarter earnings that beat analyst expectations but they issued weak guidance for the holiday season which has caused shares to take a dive in the premarket.
The retail giant released earnings per share of 91 cents on $16.67 billion in revenues while analyst were looking for 86 cents per share on $16.60 billion in revenues.
They also released fourth quarter guidance with same store sales flat to up 2% with EPS ranging from $1.05 to $1.25 compared to analyst estimates of $1.24.
Technical Analysis
As you can see in the 5-minute chart above, shares of $TGT sold off hard following their earnings release but have since recovered slightly after finding lows of $56.69. We should see plenty of action today on this name as shares will have an uptick in volume and volatility.
Look for support at $54 and $52 with $50 being a larger support area to keep an eye on should shares sell off that low. Depending on where shares open we could see resistance at $57.19, $59.15 and $60.
Target Profile
Target Corporation operates as a general merchandise retailer. It offers household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
The company also provides home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, and automotive products, as well as seasonal merchandise, such as patio furniture and holiday décor; music, movies, books, computer software, sporting goods, and toys, as well as electronics, such as video game hardware and software.
In addition, it offers in-store amenities, including Target Café, Target Photo, Target Optical, Starbucks, and other food service offerings. Target Corporation sells products through its stores; and digital channels, including Target.com.
As of September 13, 2017, the company operated 1,816 stores in the United States. Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota.
