Company Update (NYSE:TGT): Target Corporation Announces Pricing of Pending Maximum Tender Offers

[Business Wire] – Target Corporation announced today the consideration payable in connection with its previously announced tender offers , which commenced on April 4, 2016 to purchase up to $380,335,649 of the Long-Dated Notes and up to $800,000,000 of the Short-Dated Notes . Read more on this. Target Corp. (TGT) , with a current value of $50.05B, began trading this morning at $82.67. During today’s session, TGT traded between $82.66 to $83.75 and has traded between $66.46 and $85.81 over the past year. Priced at 15.67x this year’s forecasted earnings, TGT shares are relatively expensive compared to the industry’s 13.30x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.24 per share annually in dividends, yielding 2.71%. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $1.20 per share, which would be $0.10 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $5.27 is a $0.58 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $16.32 Billion. If realized, that would be a 4.67% decrease over the year-ago quarter. In terms of ratings, Barclays downgraded TGT from Overweight to Underweight (Mar 31, 2016). Previously, Citigroup Initiated TGT at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $83.20, which is 0.64% above where the stock opened this morning. See more in (NYSE:TGT) Similar Articles: Company Update (NYSE:SLB): Schlumberger Announces Increase in Maximum Tender Amount and Early Tender Results for Tender Offer for Senior Notes of Cameron International Corporation Stock Update: Target Corporation (NYSE:TGT) – Target Corporation Declares Regular Quarterly Dividend Stock Update: Target Corporation (NYSE:TGT) – CVS Health and Target Announce Completed Acquisition of Target’s Pharmacy and Clinic Businesses