Target Gives Back Gains After Q1 Earnings

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Retail giant Target
TGT
released its fiscal first-quarter earnings results prior to the closing bell on Wednesday. The stock initially gapped up on the open, but has been trading lower throughout the session. At last check, Target shares were up just 0.64% and sitting within the vicinity of session lows. The company reported adjusted earnings per share of $1.11 versus $0.99 in the year ago period. This compared to analysts' consensus EPS estimates of $1.01. Revenues for the quarter were up 5.9 percent to $16.87 billion compared to $15.94 billion in last year's first-quarter. This compared to Wall Street revenue estimates of $16.83 billion. Looking ahead to the fiscal second-quarter, Target forecasts for adjusted EPS of $1.04 to $1.14. This compares to current Wall Street consensus EPS of $0.99. For fiscal 2012, the company now sees adjusted EPS between $4.60 and $4.80. This compares to the company's previous full-year guidance of $4.55 to $4.75. Currently, analysts have consensus EPS estimates of $4.28 for the full-year.
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Posted In: EarningsNewsGuidanceIntraday UpdateMovers
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