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Target Corp Issues Q2 2013 EPS Guidance Above Analysts' Estimates; Lowers FY 2013 EPS Guidance


Wednesday, 22 May 2013 07:30am EDT 

Target Corp announced that for second quarter of 2013, it expects adjusted earnings per share (EPS) in the range of $1.09 to $1.19 and GAAP EPS of $0.90 to $1.00. The difference between the adjusted and GAAP EPS ranges reflects expected dilution of approximately 16 cents related to Canadian operations, and 3 cents related to the expected reduction in the beneficial interest asset recorded on the sale of credit card portfolio. For fiscal 2013, it expects adjusted EPS of $4.70 to $4.90, compared with prior guidance of $4.85 to $5.05. GAAP EPS is expected to be $4.12 to $4.32, approximately 58 cents lower than adjusted EPS due to losses related to the early retirement of debt of 42 cents per share, expected EPS dilution related to the canadian segment of approximately 45 cents and net accounting gains of approximately 29 cents associated with the sale of Target's entire consumer credit card receivables portfolio to TD Bank Group. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.06 for second quarter of 2013; EPS of $4.48 for fiscal 2013. 

Company Quote

62.21
-0.32 -0.51%
15 Sep 2014