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Target posts earnings of $1.52 a share vs. $1.54 expected

A shopper approaches the Target store in Mount Kisco, New York.
Scott Mlyn | CNBC
A shopper approaches the Target store in Mount Kisco, New York.

Target reported quarterly earnings and revenue that fell short of analysts' expectations on Wednesday.

The company also said it expects fiscal 2016 earnings per share to come in between $5.20 and $5.40, above the expected $4.72 a share.

Shares of the retailer moved higher in premarket trading immediately following the announcement. (Get the latest quote here.)

The retailer posted fourth-quarter earnings per share of $1.52, compared to $1.50 a share in the year-earlier period.

Revenue for the quarter came in at $21.63 billion, against the comparable year-ago figure of $21.75 billion.

Analysts expected Target to post earnings per share of $1.54 on revenue of $21.75 billion, according to a Thomson Reuters consensus estimate.

Shares of the retail giant are slightly higher for the year, but are lagging retail behemoth Wal-Mart Stores. However, Target's stock is down less than 4 percent in the last 12 months, while Wal-Mart's is down over 20 percent in that time period.

TGT (blue) versus WMT (green) in the last yearSource: FactSet