RTTNews | Nov 17, 2021 10:47AM EST

10:46 Wednesday, November 17, 2021 (RTTNews.com) - The shares of big-box retail chain Target Corporation (TGT) are sliding 5% in the Wednesday market despite the company reporting a higher net income in the third quarter. Earnings per share trumped Street view.

The net income reported by the company was $1.48 million or $3.04 earnings per share, compared to $1.01 million or $2.01 earnings per share in the same quarter last year. On an adjusted basis, the earnings were $3.03 per share, up from $2.79 per share in 2020. On average, 24 analysts polled by Thomson Reuters expected the earnings to come at $2.83 per share.

The stock is currently trading at $254.55, down $11.84 or 4.44% since the previous close at $266.39. The shares opened at $253.99 in the morning and in the 52-week period, the shares have ranged between $164.55 and $268.98 per share.

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