Company news: Target’s (TGT) quarterly results miss analysts’ estimates

Target (TGT) reported Q1 FY2024 earnings of $2.03 per share (versus $2.05 per share in Q1 FY2023), missing analysts’ consensus estimate of $2.06 per share.

The company’s quarterly revenues amounted to $24.143 bln (-3.2% y/y), missing analysts’ consensus estimate of $24.518 bln.

The company also issued in-line Q2 FY2024 EPS guidance of $1.95-2.35 versus analysts’ consensus estimate of $2.20 and reaffirmed its FY2024 EPS guidance of $8.60-9.60 versus analysts’ consensus estimate of $9.49.

TGT fell to $143.00 (-8.20%) in pre-market trading.