11:40 AM EST, 03/05/2024 (MT Newswires) -- (Updates with recent stock move in the headline and the first paragraph.)

Target ( TGT ) shares rose 11% in recent Tuesday trading after the company reported its fiscal Q4 earnings topped market estimates.

Earlier Tuesday, the company reported fiscal Q4 adjusted earnings of $2.98 per diluted share, up from $1.89 a year earlier. Analysts polled by Capital IQ expected $2.41.

Sales in the quarter ended Feb. 3 rose to $31.47 billion from $30.98 billion a year earlier. Analysts surveyed by Capital IQ expected $31.85 billion.

The retailer's comparable sales fell 4.4% in fiscal Q4, compared with growth of 0.7% a year earlier. Analysts polled by Capital IQ expected a decline of 4.5%.

In fiscal Q1, the company expects adjusted EPS of $1.70 to $2.10. Analysts surveyed by Capital IQ project $2.10. Comparable sales are expected to decline by 3% to 5%. Analysts polled by Capital IQ expect a fall of 3.5%.

In fiscal 2024, Target ( TGT ) expects adjusted EPS of $8.60 to $9.60. Analysts polled by Capital IQ expect $9.15. Comparable sales are expected to be flat to 2% higher.

Price: 167.60, Change: +17.11, Percent Change: +11.37