Walmart (NYSE:WMT) Releases FY 2023 Earnings Guidance

Walmart (NYSE:WMTGet Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.40-$6.40 for the period, compared to the consensus estimate of $6.76. The company issued revenue guidance of $585.79 billion-$585.79 billion, compared to the consensus revenue estimate of $591.18 billion.Walmart also updated its Q2 2023 guidance to EPS.

Several brokerages have recently issued reports on WMT. Gordon Haskett lowered their price target on shares of Walmart from $140.00 to $135.00 and set a hold rating for the company in a report on Wednesday, May 18th. Exane BNP Paribas upgraded Walmart from an underperform rating to a neutral rating in a research report on Friday, February 11th. Evercore ISI reduced their price target on Walmart from $140.00 to $135.00 and set an in-line rating on the stock in a report on Wednesday, May 18th. Truist Financial dropped their price objective on shares of Walmart from $150.00 to $139.00 and set a na rating for the company in a report on Wednesday, May 18th. Finally, Stifel Nicolaus reduced their target price on shares of Walmart from $155.00 to $150.00 and set a hold rating on the stock in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Walmart has a consensus rating of Buy and a consensus target price of $157.57.

Shares of WMT stock opened at $122.60 on Tuesday. Walmart has a 12-month low of $117.27 and a 12-month high of $160.77. The company has a quick ratio of 0.28, a current ratio of 0.86 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $148.49 and a 200-day moving average of $143.67. The firm has a market cap of $337.49 billion, a P/E ratio of 26.37, a PEG ratio of 3.38 and a beta of 0.49.

Walmart (NYSE:WMTGet Rating) last issued its earnings results on Tuesday, May 17th. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.18). The business had revenue of $141.60 billion for the quarter, compared to the consensus estimate of $138.05 billion. Walmart had a net margin of 2.26% and a return on equity of 19.05%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 EPS. As a group, equities analysts expect that Walmart will post 6.4 EPS for the current year.

In other Walmart news, CEO C Douglas Mcmillon sold 9,708 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $134.78, for a total value of $1,308,444.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Alice L. Walton sold 1,167,433 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $136.20, for a total transaction of $159,004,374.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,411,690 shares of company stock valued at $193,321,410. Insiders own 48.44% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its stake in shares of Walmart by 1.6% in the 2nd quarter. Morgan Stanley now owns 14,109,245 shares of the retailer’s stock valued at $1,989,686,000 after purchasing an additional 225,224 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Walmart by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,904,858 shares of the retailer’s stock worth $1,623,951,000 after buying an additional 303,726 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Walmart by 34.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,258,231 shares of the retailer’s stock valued at $783,056,000 after acquiring an additional 1,340,328 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Walmart by 85.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,399,536 shares of the retailer’s stock valued at $357,339,000 after acquiring an additional 1,104,427 shares during the period. Finally, Capital World Investors boosted its holdings in Walmart by 29.7% during the 1st quarter. Capital World Investors now owns 1,408,815 shares of the retailer’s stock valued at $209,801,000 after acquiring an additional 322,302 shares during the period. 30.79% of the stock is currently owned by hedge funds and other institutional investors.

About Walmart (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 and Estimates for Walmart (NYSE:WMT)

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