What to Watch Wednesday May 21: Target Earnings

Target is slated to post quarterly results on Wednesday and all eyes will be on the data breach that the big box retailer suffered over the holidays. Analysts have already cut their estimates by almost 20-percent during the quarter. Earnings expectations are set at $0.71 a share, up $0.10 from a year ago. Analysts also expect revenue for the quarter to come in at roughly $17 billion; that represents about 2 percent in growth from the same period a year ago. Investor confidence is down for the major retailer, even after the resignation of its CEO, along with firing the head of its Canadian operations. Perhaps cost reduction programs and merchandising initiatives will help boost earnings this quarter.