Wal-Mart Stores Inc. (WMT) Issues FY17 Earnings Guidance
Wal-Mart Stores Inc. (NYSE:WMT) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $4.15-4.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.33.
Several research firms have commented on WMT. Royal Bank Of Canada increased their price objective on shares of Wal-Mart Stores from $73.00 to $76.00 and gave the company an underperform rating in a 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 report on Tuesday, August 9th. Bank of America Corp. reissued a neutral rating and set a $72.00 price objective on shares of Wal-Mart Stores in a report on Saturday, June 25th. Telsey Advisory Group upped their target price on shares of Wal-Mart Stores from $71.00 to $78.00 and gave the company a market perform rating in a research report on Friday, August 19th. Finally, Morgan Stanley set a $76.00 target price on shares of Wal-Mart Stores and gave the company a neutral rating in a research report on Friday, August 19th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wal-Mart Stores has a consensus rating of Hold and a consensus target price of $75.56.
Shares of Wal-Mart Stores Inc. (NYSE:WMT) traded down 3.08% on Thursday, hitting $69.46. 14,684,639 shares of the company traded hands. The company has a market capitalization of $214.86 billion, a PE ratio of 14.95 and a beta of 0.20. Wal-Mart Stores Inc. has a 12 month low of $56.30 and a 12 month high of $75.19. The stock’s 50-day moving average price is $72.03 and its 200-day moving average price is $70.95.
Wal-Mart Stores (NYSE:WMT) last announced its quarterly earnings data on Thursday, August 18th. The retailer reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wal-Mart Stores had a net margin of 3.04% and a return on equity of 17.93%. The company had revenue of $120.90 billion for the quarter, compared to the consensus estimate of $119.33 billion. During the same period in the prior year, the firm posted $1.08 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Wal-Mart Stores Inc. will post $4.35 earnings per share for the current year.
In other Wal-Mart Stores news, insider Steven P. Whaley sold 1,100 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $71.46, for a total value of $78,606.00. Following the sale, the insider now directly owns 29,464 shares of the company’s stock, valued at approximately $2,105,497.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Alice L. Walton sold 2,100,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $71.44, for a total transaction of $150,024,000.00. Following the completion of the sale, the insider now directly owns 6,748,580 shares in the company, valued at $482,118,555.20. The disclosure for this sale can be found here. 51.55% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Seven Eight Capital LLC bought a new position in shares of Wal-Mart Stores during the second quarter valued at about $111,000. Loomis Sayles & Co. L P boosted its position in shares of Wal-Mart Stores by 472.3% in the second quarter. Loomis Sayles & Co. L P now owns 2,358 shares of the retailer’s stock valued at $172,000 after buying an additional 1,946 shares during the last quarter. Algert Global LLC bought a new position in shares of Wal-Mart Stores during the second quarter valued at about $221,000. Motley Fool Wealth Management LLC bought a new position in shares of Wal-Mart Stores during the second quarter valued at about $244,000. Finally, Redmond Asset Management LLC boosted its position in shares of Wal-Mart Stores by 1.1% in the second quarter. Redmond Asset Management LLC now owns 3,446 shares of the retailer’s stock valued at $252,000 after buying an additional 38 shares during the last quarter. 29.55% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Wal-Mart Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wal-Mart Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.