Wal-Mart Stores Stock Rating Reaffirmed by Zacks (WMT)
Wal-Mart Stores (NYSE:WMT)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Friday, AR Network reports. They currently have a $81.00 target price on the stock. Zacks‘ price target suggests a potential upside of 6.31% from the company’s current price.
Zacks‘ analyst wrote, “Walmart’s poor run in the first half of fiscal 2014 continued in the third quarter as well. The retail giant beat the Zacks Consensus Estimate for earnings in the third quarter but missed the same for revenues due to a gloomy consumer spending environment globally. Moreover, the company narrowed its earnings expectations for the fiscal year. The company undoubtedly enjoys sound long-term fundamentals such as its scale, geographic and product diversities, aggressive cost savings and strong international presence. However, we believe rising gas prices, delayed income tax refunds and higher payroll taxes will continue to hurt consumer spending going ahead. In addition, the bribery allegations and complaints about violating food safety standards in China are denting the company’s reputation. Currency headwinds, inventory concerns and continued economic pressure keep us on the sidelines with a Neutral recommendation.”
A number of other analysts have also recently weighed in on WMT. Analysts at TheStreet reiterated a “buy” rating on shares of Wal-Mart Stores in a research note to investors on Wednesday, December 18th. Separately, analysts at Telsey Advisory Group raised their price target on shares of Wal-Mart Stores from $80.00 to $86.00 in a research note to investors on Tuesday, December 10th. They now have a “not rated” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Wal-Mart Stores has an average rating of “Hold” and an average target price of $81.93.
Wal-Mart Stores (NYSE:WMT) last released its earnings data on Thursday, November 14th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The company had revenue of $114.90 billion for the quarter, compared to the consensus estimate of $116.75 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis.
Wal-Mart Stores, Inc (NYSE:WMT) operates retail stores in various formats around globally.
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