Wall Street's Insights Into Key Metrics Ahead of Target (TGT) Q2 Earnings

Wall Street analysts forecast that Target (TGT) will report quarterly earnings of $2.05 per share in its upcoming release, pointing to a year-over-year decline of 20.2%. It is anticipated that revenues will amount to $24.9 billion, exhibiting a decrease of 2.2% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 0.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.With that in mind, let's delve into the average projections of some Target metrics that are commonly tracked and projected by analysts on Wall Street.The consensus estimate for 'Total Revenue- Sales- Apparel & accessories' stands at $4.09 billion. The estimate suggests a change of -4.1% year over year.The collective assessment of analysts points to an estimated 'Total Revenue- Sales- Beauty & household essentials' of $3.27 billion. The estimate indicates a change of -58.8% from the prior-year quarter.The consensus among analysts is that 'Total Revenue- Sales- Food & beverage' will reach $5.50 billion. The estimate indicates a change of -0.8% from the prior-year quarter.Analysts predict that the 'Total Revenue- Sales- Other' will reach $42.73 million. The estimate suggests a change of -2.9% year over year.According to the collective judgment of analysts, 'Number of stores - Total' should come in at 1,987 . The estimate compares to the year-ago value of 1,966 .Analysts expect 'Retail Square Feet - Total' to come in at 250 millions of square feet. Compared to the current estimate, the company reported 247 millions of square feet in the same quarter of the previous year.Based on the collective assessment of analysts, 'Retail Square Feet - 50,000 to 169,999 sq. ft' should arrive at 196 millions of square feet. The estimate is in contrast to the year-ago figure of 194 millions of square feet.The combined assessment of analysts suggests that 'Digitally Originated Comparable Sales Change' will likely reach 6.1%. The estimate compares to the year-ago value of 8.7%.Analysts' assessment points toward 'Retail Square Feet - 170,000 or more sq. ft' reaching 49 millions of square feet. Compared to the current estimate, the company reported 49 millions of square feet in the same quarter of the previous year.It is projected by analysts that the 'Number of stores - 49,999 or less sq. ft' will reach 147 . Compared to the current estimate, the company reported 144 in the same quarter of the previous year.Analysts forecast 'Number of stores - 50,000 to 169,999 sq. ft' to reach 1,566 . The estimate is in contrast to the year-ago figure of 1,549 .The average prediction of analysts places 'Number of stores - 170,000 or more sq. ft' at 273 . Compared to the present estimate, the company reported 273 in the same quarter last year. View all Key Company Metrics for Target here>>> Target shares have witnessed a change of +0.6% in the past month, in contrast to the Zacks S&P 500 composite's +3.3% move. With a Zacks Rank #3 (Hold), TGT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks