To say Target (TGT) investors had a rough Wednesday will be underselling the magnitude of the stock’s descent. TGT shares shed 25% in the session in what amounted to its worst day on the stock market since 1987’s Black Monday crash. The descent was a reaction to the retailer’s woeful quarterly statement which managed to drag down with it other retail stocks after the company reported a big profitability miss. Target dialed in adj. EPS of $2.19, some way below the $3.07 analysts had expected. The profitability flop was driven by a gross margin of 25.7% vs. the 30% exhibited a year ago.
https://www.tipranks.com/news/article/dont-go-bargain-hunting-on-target-stock-quite-yet-says-analyst?utm_source=advfn.com&utm_medium=referral
Target (NYSE:TGT)
Historical Stock Chart
From Jul 2022 to Aug 2022 Click Here for more Target Charts.
Target (NYSE:TGT)
Historical Stock Chart
From Aug 2021 to Aug 2022 Click Here for more Target Charts.