Wal-Mart Stores Price Target Lowered to $75.00 at MKM Partners (WMT)
Equities researchers at MKM Partners cut their price objective on shares of Wal-Mart Stores (NYSE:WMT) from $76.00 to $75.00 in a research report issued on Friday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price target indicates a potential downside of 2.38% from the stock’s previous close.
Shares of Wal-Mart Stores (NYSE:WMT) traded up 0.22% during mid-day trading on Friday, hitting $77.00. The stock had a trading volume of 2,940,883 shares. Wal-Mart Stores has a 52-week low of $71.51 and a 52-week high of $81.37. The stock has a 50-day moving average of $77.93 and a 200-day moving average of $77.07. The company has a market cap of $248.6 billion and a price-to-earnings ratio of 15.74. Wal-Mart Stores also saw unusually large options trading activity on Wednesday. Traders bought 14,742 put options on the company. This is an increase of approximately 213% compared to the average volume of 4,717 put options.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, May 15th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by $0.05. The company had revenue of $114.20 billion for the quarter, compared to the consensus estimate of $116.29 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Analysts expect that Wal-Mart Stores will post $5.29 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on WMT. Analysts at Jefferies Group raised their price target on shares of Wal-Mart Stores from $87.00 to $92.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at William Blair downgraded shares of Wal-Mart Stores from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 15th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Wal-Mart Stores in a research note on Friday, April 4th. They now have a $81.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.47.
Wal-Mart Stores, Inc (NYSE:WMT) operates retail stores in various formats globally.
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