Wal-Mart Stores Receives “Neutral” Rating from Zacks (WMT)
Wal-Mart Stores (NYSE:WMT)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday, Analyst Ratings Network reports. They currently have a $79.00 price target on the stock. Zacks‘ price target suggests a potential upside of 5.59% from the company’s current price.
Zacks‘ analyst wrote, “After the dismal run in the first quarter, Walmart again put up a weak show in the second quarter of fiscal 2014. The retail giant met the Zacks Consensus Estimate for earnings but missed the same for revenues due to a gloomy global consumer spending environment. Moreover, the company slashed both its revenue and earnings expectations for the fiscal year. However, we are encouraged with the company’s long-term fundamentals considering its scale, geographic, and product diversities. We are also impressed with the company’s initiatives to reduce operating expenses. In addition, the company has a strong international presence and has been expanding its e-commerce business. However, rising gas prices, delayed income tax refunds and higher payroll taxes will continue to hurt consumer spending going ahead. Currency headwinds, inventory concerns and continued economic pressure keep us on the sidelines.”
Shares of Wal-Mart Stores (NYSE:WMT) traded up 0.04% during mid-day trading on Friday, hitting $74.82. 6,502,563 shares of the company’s stock traded hands. Wal-Mart Stores has a one year low of $67.37 and a one year high of $79.96. The stock’s 50-day moving average is $73.86 and its 200-day moving average is $76.04. The company has a market cap of $243.6 billion and a P/E ratio of 14.56.
Wal-Mart Stores (NYSE:WMT) last released its earnings data on Thursday, August 15th. The company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. The company had revenue of $116.20 billion for the quarter, compared to the consensus estimate of $118.57 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Wal-Mart Stores will post $5.20 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Wal-Mart Stores in a research note to investors on Wednesday, October 2nd. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Wal-Mart Stores in a research note to investors on Monday, September 9th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.20.
Wal-Mart Stores, Inc (NYSE:WMT) operates retail stores in various formats around globally.
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