Analysts on Wall Street project that Target (TGT) will announce quarterly earnings of $2.25 per share in its forthcoming report, representing an increase of 9.8% year over year. Revenues are projected to reach $26.06 billion, increasing 3.4% from the same quarter last year.

The consensus EPS estimate for the quarter has been revised 0.4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain Target metrics that are commonly tracked and forecasted by Wall Street analysts.

According to the collective judgment of analysts, 'Net Sales- Merchandise sales- Beauty & household essentials' should come in at $3.52 billion. The estimate indicates a change of +3.7% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Net Sales- Merchandise sales- Food & beverage' of $5.76 billion. The estimate indicates a year-over-year change of +3%.

The average prediction of analysts places 'Net Sales- Merchandise sales- Hardlines' at $3.60 billion. The estimate points to a change of +2.3% from the year-ago quarter.

Analysts predict that the 'Net Sales- Merchandise sales- Other' will reach $49.17 million. The estimate indicates a year-over-year change of +14.3%.

Analysts forecast 'Number of stores - Total' to reach 2,008 . Compared to the present estimate, the company reported 1,982 in the same quarter last year.

Analysts' assessment points toward 'Retail Square Feet - Total' reaching 253 millions of square feet. The estimate is in contrast to the year-ago figure of 249 millions of square feet.

The consensus estimate for 'Retail Square Feet - 170,000 or more sq. ft' stands at 49 millions of square feet. The estimate is in contrast to the year-ago figure of 49 millions of square feet.

It is projected by analysts that the 'Retail Square Feet - 50,000 to 169,999 sq. ft' will reach 199 millions of square feet. Compared to the current estimate, the company reported 195 millions of square feet in the same quarter of the previous year.

Analysts expect 'Digitally Originated Comparable Sales Change' to come in at 7.1%. Compared to the present estimate, the company reported 4.3% in the same quarter last year.

The consensus among analysts is that 'Number of stores - 49,999 or less sq. ft' will reach 148 . Compared to the present estimate, the company reported 147 in the same quarter last year.

The combined assessment of analysts suggests that 'Number of stores - 50,000 to 169,999 sq. ft' will likely reach 1,587 . Compared to the current estimate, the company reported 1,562 in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Number of stores - 170,000 or more sq. ft' should arrive at 274 . The estimate compares to the year-ago value of 273 .

View all Key Company Metrics for Target here>>>

Shares of Target have experienced a change of +10.9% in the past month compared to the +3.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), TGT is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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