Walmart (NYSE:WMT) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Walmart (NYSE:WMTGet Rating) issued its quarterly earnings data on Tuesday. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.18), MarketWatch Earnings reports. Walmart had a net margin of 2.39% and a return on equity of 20.42%. The business had revenue of $141.60 billion during the quarter, compared to the consensus estimate of $138.05 billion. During the same quarter last year, the business earned $1.69 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Walmart updated its Q2 2023 guidance to EPS and its FY 2023 guidance to $6.40-$6.40 EPS.

WMT stock opened at $122.43 on Thursday. The business has a 50 day moving average of $149.91 and a 200-day moving average of $144.38. The firm has a market cap of $337.02 billion, a PE ratio of 25.09, a P/E/G ratio of 3.99 and a beta of 0.49. Walmart has a 12-month low of $121.53 and a 12-month high of $160.77. The company has a quick ratio of 0.28, a current ratio of 0.93 and a debt-to-equity ratio of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.83%. Walmart’s payout ratio is presently 45.90%.

In other news, major shareholder Alice L. Walton sold 1,167,433 shares of Walmart stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $136.20, for a total transaction of $159,004,374.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Douglas Mcmillon sold 9,708 shares of the business’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $154.41, for a total transaction of $1,499,012.28. Following the completion of the transaction, the chief executive officer now directly owns 1,536,571 shares in the company, valued at $237,261,928.11. The disclosure for this sale can be found here. Insiders have sold 1,426,790 shares of company stock worth $195,406,267 over the last quarter. 48.44% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Eagle Capital Management LLC raised its position in shares of Walmart by 2.3% in the second quarter. Eagle Capital Management LLC now owns 30,602 shares of the retailer’s stock valued at $4,315,000 after purchasing an additional 682 shares during the period. Morgan Stanley raised its holdings in Walmart by 1.6% during the 2nd quarter. Morgan Stanley now owns 14,109,245 shares of the retailer’s stock valued at $1,989,686,000 after acquiring an additional 225,224 shares during the period. Keudell Morrison Wealth Management lifted its position in shares of Walmart by 4.1% during the third quarter. Keudell Morrison Wealth Management now owns 4,596 shares of the retailer’s stock worth $641,000 after acquiring an additional 183 shares in the last quarter. Center for Financial Planning Inc. boosted its holdings in shares of Walmart by 5.7% in the third quarter. Center for Financial Planning Inc. now owns 2,190 shares of the retailer’s stock worth $305,000 after acquiring an additional 118 shares during the period. Finally, Essex Financial Services Inc. grew its position in shares of Walmart by 29.7% in the third quarter. Essex Financial Services Inc. now owns 10,631 shares of the retailer’s stock valued at $1,482,000 after purchasing an additional 2,435 shares in the last quarter. 30.79% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on WMT shares. MKM Partners dropped their price target on shares of Walmart to $159.00 and set a “na” rating for the company in a research note on Wednesday. Telsey Advisory Group lowered their target price on Walmart from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group reduced their price target on Walmart from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their target price on shares of Walmart from $160.00 to $153.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Walmart from $175.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $158.66.

Walmart Company Profile (Get Rating)

Walmart Inc engages in the operation of retail, wholesale, and other units worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

See Also

Earnings History for Walmart (NYSE:WMT)

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