Consumer stocks are shares of companies that manufacture and sell goods and services to individuals for personal use. These stocks can be a great investment option for those looking to diversify their portfolios while potentially generating high long-term returns. Consumer stocks are available in a wide range of industries, including retail, food and beverage, personal care, and leisure.
When investing in consumer stocks, it is critical to consider a variety of factors that may have an impact on the stock’s performance, such as changes in consumer preferences, economic trends, and competitive pressures. Companies that can adapt and stay ahead of the curve as consumer preferences and habits change can potentially benefit from growth and increased profitability.
Overall, investing in consumer stocks can provide a way for investors to potentially profit from rising consumer spending and shifting consumer behavior trends. To manage risk, do your research, and carefully evaluate the risks and opportunities. As a result, investors can make more informed decisions and potentially achieve their investment objectives. Keeping this in mind, let’s dive into two consumer stocks to watch in the stock market today after they reported earnings.
Consumer Stocks To Buy [Or Sell] Now
Target Corporation (TGT Stock)
To start off, Target Corporation (TGT) is a large-scale retail corporation. In short, the company provides a variety of consumer products, including clothing, electronics, and household essentials, through brick-and-mortar stores and e-commerce platforms.
TGT Recent Stock News
On Tuesday morning, Target reported better-than-expected 4th quarter 2022 financial and operating results. Diving in, Target reported fourth-quarter 2022 earnings of $1.89 per share, along with revenue of $31.4 billion. For context, this is compared to analysts’ consensus estimates were earnings of $1.39 per share and revenue expectations of $30.7 billion. Though, the company did guide lower as they said it expects 1st quarter 2023 earnings in the range of $1.50 to $1.90 per share.
Furthermore, Brian Cornell, chairman and CEO of Target Corporation commented, “We’re pleased that our business delivered comparable sales growth in the fourth quarter, in what continues to be a very challenging environment. Strength in Food & Beverage, Beauty and Household Essentials offset ongoing softness in discretionary categories.“
TGT Stock Chart
Following its earnings release, shares of TGT jumped during Tuesday’s trading session. Specifically, TGT stock is trading 2.49% higher on the day so far at $170.97 a share.
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AutoZone (AZO Stock)
Second, AutoZone, Inc. (AZO) is a leading retailer of automotive replacement parts and accessories in the United States, Mexico, and Brazil. With a strong presence in the automotive industry and a focus on customer service and convenience, AZO has continued to expand its offerings and provide reliable and efficient services to customers worldwide.
AZO Recent Stock News
Also on Tuesday morning, AutoZone reported better than expected 2nd quarter 2023 financial and operating results. In the report, the company showed an EPS of $24.64 with revenue of $3.7 billion. This is in comparison to Wall Street’s consensus estimates for the quarter which were earnings of $21.33 per share on revenue of $3.6 billion. Additionally, the company reported that revenue increased by 9.5% versus the same period, the previous year.
Moreover, Bill Rhodes, Chairman, President, and CEO had this to say, “We are proud to report solid same store sales growth on top of last year’s 13.8%. We could not have achieved these results without phenomenal contributions from across the organization. Once again, our AutoZoners’ efforts generated double digit domestic Commercial growth and single digit domestic Retail sales growth.“
AZO Stock Chart
So far in 2023, shares of AutoZone stock have increased by 2.80% year-to-date. Meanwhile, following this report, shares of AZO stock are down 2.93% on Tuesday so far, trading at $2,499.10 per share.
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