Target Corp. (TGT) reported first quarter adjusted EPS of $1.05 Wednesday morning, down from $1.11 last year. The consensus estimate was for EPS of $0.87. The company expects to report second quarter adjusted EPS of $1.09 to $1.19, compared to the consensus estimate of $1.06. Target lowered its full year 2013 adjusted EPS forecast to between $4.70 and $4.90, from prior expectations of $4.85 to $5.05. The consensus estimate is for EPS of $4.50.
Target gapped open lower Wednesday and fell in early trade, before settling into a range. The stock finished down by 2.86 at $68.40 on above average volume. Target fell to a 1-month low and dropped below its 50-day moving average.
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