Walmart (NYSE:WMT) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Walmart (NYSE:WMTGet Rating) announced its quarterly earnings data on Tuesday. The retailer reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.18, Briefing.com reports. The business had revenue of $152.80 billion for the quarter, compared to analysts’ expectations of $146.80 billion. Walmart had a return on equity of 18.95% and a net margin of 2.36%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. Walmart updated its FY 2023 guidance to $6.01-$6.07 EPS and its Q4 2023 guidance to $1.45-$1.48 EPS.

Walmart Price Performance

Shares of Walmart stock traded up $10.16 during trading on Tuesday, hitting $148.55. 606,196 shares of the company were exchanged, compared to its average volume of 5,371,049. The company has a quick ratio of 0.24, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. Walmart has a fifty-two week low of $117.27 and a fifty-two week high of $160.77. The stock has a market capitalization of $403.20 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 4.44 and a beta of 0.52. The firm has a 50 day moving average price of $135.68 and a 200 day moving average price of $132.24.

Insider Buying and Selling

In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $135.63, for a total value of $1,316,696.04. Following the completion of the sale, the chief executive officer now directly owns 1,497,747 shares of the company’s stock, valued at approximately $203,139,425.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $135.63, for a total value of $1,316,696.04. Following the completion of the sale, the chief executive officer now directly owns 1,497,747 shares of the company’s stock, valued at approximately $203,139,425.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alice L. Walton sold 250,000 shares of Walmart stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $137.83, for a total transaction of $34,457,500.00. Following the completion of the sale, the insider now directly owns 283,200,824 shares of the company’s stock, valued at $39,033,569,571.92. The disclosure for this sale can be found here. Insiders sold 2,160,874 shares of company stock worth $298,616,900 in the last ninety days. Insiders own 47.06% of the company’s stock.

Institutional Trading of Walmart

Several institutional investors have recently made changes to their positions in WMT. Power Corp of Canada purchased a new stake in shares of Walmart during the 1st quarter valued at $44,000. Covestor Ltd grew its stake in shares of Walmart by 31.7% during the 1st quarter. Covestor Ltd now owns 1,162 shares of the retailer’s stock valued at $173,000 after buying an additional 280 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Walmart during the 1st quarter valued at $203,000. Connors Investor Services Inc. purchased a new stake in Walmart during the 1st quarter worth $213,000. Finally, Delphia USA Inc. purchased a new stake in Walmart during the 1st quarter worth $214,000. 31.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WMT has been the topic of a number of analyst reports. Cowen cut their price target on Walmart from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 26th. Bank of America raised their price objective on Walmart from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Erste Group Bank raised Walmart from a “hold” rating to a “buy” rating in a report on Wednesday, October 5th. Credit Suisse Group raised their price objective on Walmart from $133.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Finally, UBS Group raised their price objective on Walmart from $152.00 to $158.00 in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.90.

About Walmart

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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.

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Earnings History for Walmart (NYSE:WMT)

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