Brokers Offer Predictions for Wal-Mart Stores Inc.’s FY2017 Earnings (WMT)
Wal-Mart Stores Inc. (NYSE:WMT) – KeyCorp dropped their FY2017 earnings per share estimates for Wal-Mart Stores in a note issued to investors on Thursday. KeyCorp analyst E. Yruma now anticipates that the firm will post earnings per share of $4.34 for the year, down from their prior estimate of $4.36. KeyCorp has a “Buy” rating and a $90.00 price objective on the stock. KeyCorp also issued estimates for Wal-Mart Stores’ Q4 2017 earnings at $1.32 EPS, Q1 2018 earnings at $0.97 EPS and Q2 2018 earnings at $1.08 EPS.
Wal-Mart Stores (NYSE:WMT) last issued its quarterly earnings results on Thursday, November 17th. The retailer reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The firm earned $118.20 billion during the quarter, compared to analyst estimates of $118.69 billion. Wal-Mart Stores had a return on equity of 17.71% and a net margin of 2.98%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share.
WMT has been the topic of several other reports. Jefferies Group set a $86.00 target price on shares of Wal-Mart Stores and gave the company a “buy” rating in a research report on Tuesday, October 4th. Deutsche Bank AG restated a “hold” rating and set a $77.00 target price (up from $68.00) on shares of Wal-Mart Stores in a research report on Tuesday, August 2nd. Royal Bank Of Canada decreased their target price on shares of Wal-Mart Stores from $76.00 to $75.00 and set an “underperform” rating for the company in a research report on Friday, October 7th. Buckingham Research restated a “neutral” rating on shares of Wal-Mart Stores in a research report on Thursday, August 18th. Finally, BMO Capital Markets cut their price objective on shares of Wal-Mart Stores from $67.00 to $63.00 and set an “underperform” rating for the company in a report on Tuesday, October 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.96.
Shares of Wal-Mart Stores (NYSE:WMT) traded up 1.333% during mid-day trading on Monday, hitting $70.295. The stock had a trading volume of 1,985,934 shares. Wal-Mart Stores has a 52-week low of $58.32 and a 52-week high of $75.19. The stock has a market cap of $217.44 billion, a P/E ratio of 15.133 and a beta of 0.10. The company’s 50 day moving average is $69.59 and its 200-day moving average is $71.17.
In related news, major shareholder Alice L. Walton sold 3,142,846 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.41, for a total value of $227,573,478.86. Following the sale, the insider now directly owns 6,748,580 shares of the company’s stock, valued at $488,664,677.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven P. Whaley sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $71.46, for a total transaction of $78,606.00. Following the completion of the sale, 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 currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Compass Capital Management Inc. raised its stake in shares of Wal-Mart Stores by 0.9% in the second quarter. Compass Capital Management Inc. now owns 274,940 shares of the retailer’s stock worth $20,076,000 after buying an additional 2,552 shares during the period. Acadian Asset Management LLC raised its stake in Wal-Mart Stores by 12.9% in the second quarter. Acadian Asset Management LLC now owns 3,788,062 shares of the retailer’s stock valued at $276,603,000 after buying an additional 431,780 shares during the last quarter. Retirement Systems of Alabama raised its stake in Wal-Mart Stores by 3.0% in the second quarter. Retirement Systems of Alabama now owns 1,582,960 shares of the retailer’s stock valued at $115,588,000 after buying an additional 45,683 shares during the last quarter. KLCM Advisors Inc. raised its stake in Wal-Mart Stores by 8.3% in the second quarter. KLCM Advisors Inc. now owns 159,417 shares of the retailer’s stock valued at $11,641,000 after buying an additional 12,211 shares during the last quarter. Finally, British Columbia Investment Management Corp raised its stake in Wal-Mart Stores by 2.1% in the second quarter. British Columbia Investment Management Corp now owns 621,749 shares of the retailer’s stock valued at $45,400,000 after buying an additional 13,017 shares during the last quarter. 29.88% of the stock is currently owned by hedge funds and other institutional investors.
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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