NEW YORK (TheStreet) -- Target (TGT) was falling -1.8% to $58.20 in pre-market trading Wednesday after missing analysts' estimates for earnings in the second quarter and cutting its full-year EPS guidance.
For the second quarter Target reported earnings of 78 cents a share, while analysts surveyed by Thomson Reuters expected earnings of 79 cents a share. Revenue grew 1.6% from the year-ago quarter to $17.41 billion, compared to the $17.38 billion analysts expected for the quarter.
Watch the video below to see what Target is doing to reverse the negative trend:
Looking forward to the full-year Target now expects earnings of $3.10 to $3.30 a share, down from its previous guidance of $3.60 to $3.90 a share. Analysts expect earnings of $3.49 a share for the year.
TheStreet Ratings team rates TARGET CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TARGET CORP (TGT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."