Wal-Mart Stores Receives New Coverage from Analysts at Morgan Stanley (WMT)
Morgan Stanley began coverage on shares of Wal-Mart Stores (NYSE:WMT) in a research note issued on Tuesday. The firm set an “overweight” rating and a $87.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 14.79% from the stock’s previous close.
In other Wal-Mart Stores news, SVP Steven P. Whaley sold 1,200 shares of Wal-Mart Stores stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $76.79, for a total value of $92,148.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on WMT. Analysts at Belus Capital initiated coverage on shares of Wal-Mart Stores in a research note on Thursday, June 5th. They set a “sell” rating and a $71.00 price target on the stock. Separately, analysts at Standpoint Research initiated coverage on shares of Wal-Mart Stores in a research note on Wednesday, May 28th. They set a “strong sell” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Wal-Mart Stores in a research note on Friday, May 16th. They now have a $81.00 price target on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.28.
Shares of Wal-Mart Stores (NYSE:WMT) traded up 0.47% on Tuesday, hitting $76.145. The stock had a trading volume of 557,449 shares. Wal-Mart Stores has a 1-year low of $71.51 and a 1-year high of $81.37. The stock has a 50-day moving average of $76.7 and a 200-day moving average of $76.53. The company has a market cap of $245.5 billion and a P/E ratio of 15.65. Wal-Mart Stores also was the target of a significant growth in short interest in the month of May. As of May 30th, there was short interest totalling 33,339,265 shares, a growth of 12.8% from the May 15th total of 29,562,470 shares. Based on an average daily volume of 5,586,185 shares, the days-to-cover ratio is presently 6.0 days. Currently, 2.1% of the shares of the stock are short sold.
Wal-Mart Stores (NYSE:WMT) last announced its 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. On average, analysts predict that Wal-Mart Stores will post $5.17 earnings per share for the current fiscal year.
Wal-Mart Stores, Inc (NYSE:WMT), operates retail stores in various formats globally.
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