Wal-Mart Stores, Inc. (WMT) Announces Earnings Results, Beats Expectations By $0.01 EPS
Wal-Mart Stores, Inc. (NYSE:WMT) released its earnings results on Thursday. The retailer reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01, Bloomberg Earnings reports. The company had revenue of $123.40 billion during the quarter, compared to the consensus estimate of $121.86 billion. Wal-Mart Stores had a return on equity of 16.96% and a net margin of 2.79%. Wal-Mart Stores’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. Wal-Mart Stores updated its Q3 guidance to $0.90-0.98 EPS and its FY18 guidance to $4.30-4.40 EPS.
Shares of Wal-Mart Stores (WMT) traded up 0.4728% on Friday, hitting $80.0768. The stock had a trading volume of 3,018,251 shares. Wal-Mart Stores has a 12 month low of $65.28 and a 12 month high of $81.99. The company’s 50 day moving average price is $77.99 and its 200-day moving average price is $74.54. The company has a market cap of $241.39 billion, a P/E ratio of 18.1827 and a beta of 0.29.
In related news, Director S Robson Walton sold 1,321,340 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $78.61, for a total transaction of $103,870,537.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Jim C. Walton sold 1,455,636 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $78.34, for a total value of $114,034,524.24. Following the transaction, the insider now owns 10,507,224 shares in the company, valued at $823,135,928.16. The disclosure for this sale can be found here. Insiders sold a total of 23,001,578 shares of company stock worth $1,815,723,535 over the last quarter. Company insiders own 51.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Wal-Mart Stores by 0.4% in the second quarter. Vanguard Group Inc. now owns 105,673,654 shares of the retailer’s stock valued at $7,997,381,000 after buying an additional 440,343 shares during the period. State Street Corp increased its position in shares of Wal-Mart Stores by 1.2% in the first quarter. State Street Corp now owns 73,568,236 shares of the retailer’s stock valued at $5,303,013,000 after buying an additional 854,010 shares during the period. FMR LLC increased its position in shares of Wal-Mart Stores by 45.3% in the second quarter. FMR LLC now owns 17,982,372 shares of the retailer’s stock valued at $1,360,906,000 after buying an additional 5,608,785 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Wal-Mart Stores by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 14,579,702 shares of the retailer’s stock valued at $1,103,426,000 after buying an additional 580,373 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Wal-Mart Stores by 2.6% in the first quarter. American Century Companies Inc. now owns 10,040,766 shares of the retailer’s stock valued at $723,738,000 after buying an additional 256,833 shares during the period. Hedge funds and other institutional investors own 30.00% of the company’s stock.
WMT has been the subject of several recent research reports. Sanford C. Bernstein reiterated a “buy” rating on shares of Wal-Mart Stores in a research report on Saturday, May 13th. UBS AG reiterated a “neutral” rating and issued a $80.00 price objective (up previously from $73.00) on shares of Wal-Mart Stores in a research report on Sunday, May 21st. BidaskClub upgraded Wal-Mart Stores from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Wal-Mart Stores in a research report on Thursday. Finally, Cowen and Company set a $86.00 price objective on Wal-Mart Stores and gave the company a “buy” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.86.
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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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