Analysts Issue Forecasts for Wal-Mart Stores Inc.’s Q3 2017 Earnings (WMT)
Wal-Mart Stores Inc. (NYSE:WMT) – Equities research analysts at KeyCorp issued their Q3 2017 earnings per share estimates for shares of Wal-Mart Stores in a note issued to investors on Thursday. KeyCorp analyst E. Yruma expects that the brokerage will post earnings of $0.97 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $90.00 target price on the stock. KeyCorp also issued estimates for Wal-Mart Stores’ Q4 2017 earnings at $1.35 EPS, FY2017 earnings at $4.36 EPS, Q1 2018 earnings at $1.05 EPS, Q2 2018 earnings at $1.12 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.39 EPS and FY2018 earnings at $4.54 EPS.
A number of other research analysts have also recently weighed in on the company. Guggenheim initiated coverage on Wal-Mart Stores in a research report on Friday. They set a “buy” rating and a $82.00 price objective on the stock. Zacks Investment Research cut Wal-Mart Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Morgan Stanley set a $73.00 price objective on Wal-Mart Stores and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Buckingham Research set a $70.00 price objective on Wal-Mart Stores and gave the company a “hold” rating in a research report on Wednesday, September 28th. Finally, Vetr raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.98 price objective on the stock in a research report on Monday, September 19th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.53.
Shares of Wal-Mart Stores (NYSE:WMT) opened at 72.01 on Monday. Wal-Mart Stores has a 52 week low of $56.30 and a 52 week high of $75.19. The firm has a 50-day moving average price of $72.11 and a 200 day moving average price of $70.91. The stock has a market cap of $222.75 billion, a price-to-earnings ratio of 15.50 and a beta of 0.20.
Wal-Mart Stores (NYSE:WMT) last issued its earnings results on Thursday, August 18th. The retailer reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The business earned $120.90 billion during the quarter, compared to analyst estimates of $119.33 billion. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. Wal-Mart Stores’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 3,504,756 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $71.37, for a total transaction of $250,134,435.72. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at $481,646,154.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $150,024,000.00. Following the transaction, the insider now directly owns 6,748,580 shares of the company’s stock, valued at approximately $482,118,555.20. The disclosure for this sale can be found here. Company insiders own 51.55% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Kelman Lazarov Inc. purchased a new position in shares of Wal-Mart Stores during the first quarter worth approximately $949,000. Carroll Financial Associates Inc. boosted its position in shares of Wal-Mart Stores by 3.4% in the first quarter. Carroll Financial Associates Inc. now owns 10,988 shares of the retailer’s stock worth $752,000 after buying an additional 362 shares during the last quarter. City Holding Co. boosted its position in shares of Wal-Mart Stores by 6.9% in the first quarter. City Holding Co. now owns 34,657 shares of the retailer’s stock worth $2,374,000 after buying an additional 2,241 shares during the last quarter. Tompkins Financial Corp boosted its position in shares of Wal-Mart Stores by 60.8% in the first quarter. Tompkins Financial Corp now owns 38,506 shares of the retailer’s stock worth $2,637,000 after buying an additional 14,562 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Wal-Mart Stores by 15.1% in the first quarter. Raymond James Trust N.A. now owns 82,806 shares of the retailer’s stock worth $5,671,000 after buying an additional 10,836 shares during the last quarter. 29.55% of the stock is owned by institutional investors and hedge funds.
Wal-Mart Stores Company Profile
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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