Brokers Set Expectations for Wal-Mart Stores Inc’s Q2 2018 Earnings (WMT)
Wal-Mart Stores Inc (NYSE:WMT) – Equities researchers at Northcoast Research lowered their Q2 2018 EPS estimates for Wal-Mart Stores in a research note issued to investors on Wednesday. Northcoast Research analyst C. Cerankosky now forecasts that the retailer will post earnings per share of $1.06 for the quarter, down from their previous estimate of $1.08. Northcoast Research also issued estimates for Wal-Mart Stores’ Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.32 EPS, FY2018 earnings at $4.37 EPS and FY2019 earnings at $4.48 EPS.
Wal-Mart Stores (NYSE:WMT) last released its quarterly earnings results on Thursday, May 18th. The retailer reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. Wal-Mart Stores had a net margin of 2.98% and a return on equity of 17.71%. The business had revenue of $116.53 billion for the quarter, compared to analysts’ expectations of $117.01 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year.
A number of other analysts have also weighed in on the stock. Wells Fargo & Co restated a “neutral” rating on shares of Wal-Mart Stores in a research note on Tuesday. Goldman Sachs Group Inc restated a “neutral” rating and set a $78.00 price objective on shares of Wal-Mart Stores in a research note on Monday. Jefferies Group LLC set a $88.00 price objective on shares of Wal-Mart Stores and gave the company a “buy” rating in a research note on Saturday, May 20th. Sanford C. Bernstein set a $75.00 price target on shares of Wal-Mart Stores and gave the stock a “neutral” rating in a research note on Saturday, May 20th. Finally, Stifel Nicolaus set a $79.00 price target on shares of Wal-Mart Stores and gave the stock a “hold” rating in a research note on Friday, May 19th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Wal-Mart Stores currently has an average rating of “Hold” and an average price target of $78.15.
Wal-Mart Stores (NYSE:WMT) traded up 0.441% on Thursday, reaching $78.495. 1,114,238 shares of the company traded hands. Wal-Mart Stores has a one year low of $65.28 and a one year high of $79.44. The company has a market capitalization of $238.23 billion, a PE ratio of 17.824 and a beta of 0.09. The stock’s 50 day moving average price is $75.28 and its 200 day moving average price is $71.09.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 4,542,361 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $70.54, for a total transaction of $320,418,144.94. Following the transaction, the insider now owns 6,748,580 shares in the company, valued at $476,044,833.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director S Robson Walton sold 1,321,340 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $78.61, for a total transaction of $103,870,537.40. The disclosure for this sale can be found here. Insiders sold 16,368,816 shares of company stock worth $1,201,695,455 in the last 90 days. 51.55% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Shell Asset Management Co. boosted its position in Wal-Mart Stores by 2.3% in the third quarter. Shell Asset Management Co. now owns 370,660 shares of the retailer’s stock worth $26,732,000 after buying an additional 8,306 shares during the period. Chicago Equity Partners LLC boosted its position in Wal-Mart Stores by 42.2% in the third quarter. Chicago Equity Partners LLC now owns 454,690 shares of the retailer’s stock worth $32,792,000 after buying an additional 134,930 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in Wal-Mart Stores by 3.1% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 254,324 shares of the retailer’s stock worth $18,341,000 after buying an additional 7,763 shares during the period. Vicus Capital purchased a new position in Wal-Mart Stores during the third quarter worth $284,000. Finally, BRC Investment Management LLC purchased a new position in Wal-Mart Stores during the third quarter worth $6,730,000. Institutional investors and hedge funds own 29.69% 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 operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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