Brokerages forecast that Wal-Mart Stores, Inc. (NYSE:WMT) will post $134.95 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Wal-Mart Stores’ earnings, with the lowest sales estimate coming in at $133.62 billion and the highest estimate coming in at $136.72 billion. Wal-Mart Stores posted sales of $130.94 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that Wal-Mart Stores will report full year sales of $134.95 billion for the current financial year, with estimates ranging from $494.23 billion to $500.80 billion. For the next fiscal year, analysts anticipate that the company will report sales of $511.52 billion per share, with estimates ranging from $505.18 billion to $516.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Wal-Mart Stores.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, November 16th. The retailer reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. Wal-Mart Stores had a net margin of 2.31% and a return on equity of 16.92%. The company had revenue of $122.14 billion during the quarter, compared to analyst estimates of $120.23 billion. During the same period in the prior year, the business posted $0.98 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year.
A number of equities research analysts recently commented on WMT shares. BMO Capital Markets reiterated a “market weight” rating on shares of Wal-Mart Stores in a report on Thursday, September 14th. Jefferies Group set a $105.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, November 14th. Bank of America set a $100.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $84.00 price target (up from $80.00) on shares of Wal-Mart Stores in a report on Friday, October 6th. Finally, Barclays set a $100.00 price target on shares of Wal-Mart Stores and gave the company a “buy” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $94.23.
In related news, insider Jacqueline P. Canney sold 1,586 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $79.00, for a total value of $125,294.00. Following the completion of the transaction, the insider now directly owns 21,125 shares in the company, valued at approximately $1,668,875. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 2,000,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total transaction of $158,940,000.00. Following the completion of the transaction, the insider now owns 6,748,580 shares of the company’s stock, valued at $536,309,652.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,421,174 shares of company stock valued at $1,366,398,832. 51.39% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of WMT. Winfield Associates Inc. lifted its stake in shares of Wal-Mart Stores by 5.8% in the 2nd quarter. Winfield Associates Inc. now owns 1,373 shares of the retailer’s stock worth $104,000 after purchasing an additional 75 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its stake in shares of Wal-Mart Stores by 3.3% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,429 shares of the retailer’s stock worth $108,000 after purchasing an additional 45 shares during the period. TrimTabs Asset Management LLC lifted its stake in shares of Wal-Mart Stores by 89.2% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,476 shares of the retailer’s stock worth $106,000 after purchasing an additional 696 shares during the period. Thompson Davis & CO. Inc. lifted its stake in shares of Wal-Mart Stores by 456.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,526 shares of the retailer’s stock worth $115,000 after purchasing an additional 1,252 shares during the period. Finally, Hudock Capital Group LLC lifted its stake in shares of Wal-Mart Stores by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 1,847 shares of the retailer’s stock worth $139,000 after purchasing an additional 7 shares during the period. Institutional investors own 30.58% of the company’s stock.
Wal-Mart Stores (WMT) traded up $0.90 during trading hours on Wednesday, reaching $98.80. 12,012,100 shares of the company were exchanged, compared to its average volume of 8,954,699. Wal-Mart Stores has a 52 week low of $65.28 and a 52 week high of $100.13. The company has a quick ratio of 0.19, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a market cap of $290,017.22, a price-to-earnings ratio of 22.35, a P/E/G ratio of 3.61 and a beta of 0.37.
Wal-Mart Stores declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 10th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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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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