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Big Retail Quarterly Reports Happening This Week

Tuesday, November 19, 2019 08:00 AM | Michael Fowlkes

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Big Retail Quarterly Reports Happening This Week

The majority of big stocks have already reported quarterly numbers this quarter, but there are still plenty of big name stocks left to report. This week will feature quarterly reports from some of the biggest names in retail.

Retail has been a strong spot in the market during the recent bull run. Low unemployment, and a strong stock market has consumer confidence high, which in in turn has led to strong consumer spending.

While the overall retail sector has remained strong, discount retailers, and retailers that have shown strong e-commerce performance have been strong outperformers. As we head into the all-important holiday shopping season retailers will remain the focus of the market, and here are a handful of retailers set to report their most recent quarterly numbers this week.

Target (TGT)

Mega-retailer Target (TGT) is scheduled to release its third-quarter report on Wednesday. The consensus calls for earnings of $1.18 per share, up from $1.09 during the same period last year. TGT stock has been a strong outperform in 2019 with shares up 70% year to date. The company has posted better than expected top and bottom line numbers each of the last three quarters, and the street expects another earnings beat with a $1.22 whisper number. The stock remains reasonably priced at 18.5 times future earnings, and the company is expected to grow earnings at 9.3% per annum over the next five years. Look for news on the company's e-commerce growth, which remains a driving factor in the stock's performance. Analysts have an average price target of $114.79 on the stock.

Foot Locker (FL)

Athletic apparel and accessories retailer Foot Locker (FL) reports its third-quarter numbers on Friday. Analysts expect the retailer to report earnings of $1.07 per share for the quarter. During the same period last year, the company earned $0.95. FL has disappointed in 2019, with shares down 15.3% on the year. The stock has disappointed during the year with earnings and sales misses the last two quarters. The quarter Wall Street expects a more upbeat report and a small earnings beat with a whisper number of $1.10 for the quarter. The stock is priced at a very low valuation of 9.8 times earnings, which are forecast to rise at 8.8% per annum over the next five years. The stock has been rising over the last three months, and if the company is able to deliver the expected quarterly beat it could continue to build on its recent gains. Analysts have an average price target of $50.82 on the stock.

The Gap (GPS)

Teen retailer The Gap (GPS) reports Q3 numbers Thursday. Going into the quarterly report analysts expect to see earnings of $0.51 per share, down from $0.69 during the same period last year. The stock has struggled and is currently down 32.8% year to date. GPS has traded sharply lower during the year with the company weaker than expected revenue each of the last three quarters. Earnings were better than expected last quarter, which initially pushed the stock higher, but it has not managed to maintain its post-earnings strength and has traded sideways the last two months. Analysts expect another small earnings beat with a $0.52 whisper, but the company needs to deliver better top-line numbers as well for GPS to break out to the upside. Analysts have an average price target of $17.60 on the stock.

Ross Stores (ROST)

Off-priced retailer Ross Stores (ROST) will report its third-quarter results on Thursday. Analysts expect the company to post earnings of 0.97 per share, up from $0.91 during the same period last year. ROST has been one of the stronger retail stocks in 2019, with shares up 34.5% on the year. Discount retailers have been strong in the current market, with ROST stock up strongly on the back of three straight top and bottom-line beats. The market expects another earnings beat this quarter with a whisper number of $0.98. The stock is trading at 25 times earnings which are expected to rise at an annual rate of 9% over the next five years. Low unemployment and strong consumer confidence should continue to keep strength in retail, especially discount retailers which have led the sector in recent years. Analysts have an average price target of $114.24 on the stock.

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