Wal-Mart Stores Inc. Expected to Post Q1 2018 Earnings of $1.04 Per Share (WMT)
Wal-Mart Stores Inc. (NYSE:WMT) – KeyCorp decreased their Q1 2018 earnings per share estimates for Wal-Mart Stores in a report released on Thursday. KeyCorp analyst E. Yruma now forecasts that the firm will post earnings of $1.04 per share for the quarter, down from their prior forecast of $1.05. KeyCorp currently has a “Buy” rating and a $90.00 target price on the stock. KeyCorp also issued estimates for Wal-Mart Stores’ Q3 2018 earnings at $0.89 EPS and Q4 2018 earnings at $1.30 EPS.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The business had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis.
A number of other equities research analysts also recently issued reports on WMT. Royal Bank Of Canada boosted their price objective on shares of Wal-Mart Stores from $73.00 to $76.00 and gave the company an “underperform” rating in a research report on Friday, August 19th. Jefferies Group set a $85.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, August 9th. JPMorgan Chase & Co. set a $72.00 price objective on shares of Wal-Mart Stores and gave the company a “neutral” rating in a research report on Monday. Bank of America Corp. reissued a “neutral” rating and set a $72.00 price objective on shares of Wal-Mart Stores in a research report on Saturday, June 25th. Finally, Telsey Advisory Group upped their target price on shares of Wal-Mart Stores from $71.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, August 19th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Wal-Mart Stores currently has a consensus rating of “Hold” and a consensus target price of $75.46.
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Shares of Wal-Mart Stores (NYSE:WMT) opened at 68.70 on Monday. The firm’s 50-day moving average price is $71.77 and its 200-day moving average price is $70.95. The stock has a market cap of $212.51 billion, a P/E ratio of 14.79 and a beta of 0.20. Wal-Mart Stores has a 52-week low of $56.30 and a 52-week high of $75.19.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 3,142,846 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total value of $227,573,478.86. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $488,664,677.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven P. Whaley sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the sale, the insider now owns 29,464 shares of the company’s stock, valued at $2,105,497.44. The disclosure for this sale can be found here. Insiders own 51.55% of the company’s stock.
A number of large investors have recently made changes to their positions in WMT. Glenmede Trust Co. NA increased its stake in shares of Wal-Mart Stores by 5.6% in the first quarter. Glenmede Trust Co. NA now owns 698,478 shares of the retailer’s stock valued at $47,838,000 after buying an additional 37,264 shares during the period. Sii Investments Inc. WI increased its stake in shares of Wal-Mart Stores by 30.2% in the first quarter. Sii Investments Inc. WI now owns 9,742 shares of the retailer’s stock valued at $668,000 after buying an additional 2,258 shares during the period. Sanders Morris Harris Inc. purchased a new stake in shares of Wal-Mart Stores during the first quarter valued at $917,000. Commonwealth Equity Services Inc increased its stake in shares of Wal-Mart Stores by 7.2% in the first quarter. Commonwealth Equity Services Inc now owns 377,826 shares of the retailer’s stock valued at $25,877,000 after buying an additional 25,497 shares during the period. Finally, Aperio Group LLC increased its stake in shares of Wal-Mart Stores by 30.2% in the first quarter. Aperio Group LLC now owns 1,031,777 shares of the retailer’s stock valued at $70,666,000 after buying an additional 239,298 shares during the period. Institutional investors own 29.55% of the company’s stock.
About Wal-Mart Stores
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club.
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