5 Must-Watch Earnings Reports

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1. Target Corporation (NYSE: TGT)

Number of Hedge Fund Holders: 66

Target Corporation (NYSE: TGT) is one of the biggest discount retailers in the U.S, operating more than 1,900 stores. The company recently announced better-than-expected financial results for the second quarter.

Target earned $3.64 per share on an adjusted basis, ahead of the consensus forecast of $3.51 per share. Revenue for the quarter rose 9.5 percent on a year-over-year basis to $25.16 billion, beating analysts average estimate of $24.99 billion.

Same-store sales in the quarter improved to 8.9 percent, better than the growth of 8.8 percent projected by analysts. In addition, digital comparable sales in the quarter increased to 10 percent. Looking forward, Target expects its comparable sales in the second half to grow in the high single-digit percentage.

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Speaking on the results, CEO Brian Cornell said, “In the second quarter, our business generated continued growth on top of record increases a year ago, reinforcing Target’s leadership position in retail. We’ve spent years building and investing in the durable model we have today, which is supported by a differentiated strategy and the best team in retail.”

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