Wal-Mart Stores Inc. (WMT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Wal-Mart Stores Inc. (NYSE:WMT) announced its quarterly earnings data on Thursday. The retailer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Wal-Mart Stores had a return on equity of 17.93% and a net margin of 3.04%. The business earned $118.20 billion during the quarter, compared to the consensus estimate of $118.69 billion. During the same period in the prior year, the company earned $1.03 EPS. Wal-Mart Stores’s revenue for the quarter was up .5% on a year-over-year basis. Wal-Mart Stores updated its Q4 guidance to $1.18-1.33 EPS and its FY17 guidance to $4.20-4.35 EPS.
Wal-Mart Stores (NYSE:WMT) opened at 69.19 on Friday. Wal-Mart Stores has a 12 month low of $58.32 and a 12 month high of $75.19. The stock has a market capitalization of $214.02 billion, a PE ratio of 14.90 and a beta of 0.10. The stock has a 50 day moving average price of $69.80 and a 200 day moving average price of $71.11.
WMT has been the subject of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating and issued a $86.00 target price (up previously from $85.00) on shares of Wal-Mart Stores in a report on Monday, August 15th. Nomura set a $81.00 target price on Wal-Mart Stores and gave the stock a “buy” rating in a report on Friday, August 19th. Vetr raised Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $75.98 target price for the company in a report on Monday, September 19th. Guggenheim initiated coverage on Wal-Mart Stores in a research note on Friday, September 30th. They issued a “buy” rating and a $82.00 price target for the company. Finally, KeyCorp set a $90.00 price target on Wal-Mart Stores and gave the company a “buy” rating in a research note on Friday, October 7th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Wal-Mart Stores presently has a consensus rating of “Hold” and an average price target of $75.04.
In related news, major shareholder Alice L. Walton sold 2,100,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven P. Whaley sold 1,100 shares of the company’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 value of $78,606.00. Following the completion of the transaction, the insider now directly owns 29,464 shares in the company, valued at $2,105,497.44. The disclosure for this sale can be found here. 51.55% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vigilant Capital Management LLC boosted its position in Wal-Mart Stores by 1,270.0% in the second quarter. Vigilant Capital Management LLC now owns 1,370 shares of the retailer’s stock valued at $100,000 after buying an additional 1,270 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Wal-Mart Stores during the second quarter valued at about $100,000. Americafirst Capital Management LLC acquired a new position in Wal-Mart Stores during the second quarter valued at about $106,000. BKS Advisors LLC acquired a new position in Wal-Mart Stores during the third quarter valued at about $110,000. Finally, Seven Eight Capital LLC acquired a new position in Wal-Mart Stores during the second quarter valued at about $111,000. 29.96% of the stock is currently 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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