Walmart (NYSE:WMT) Issues FY 2024 Earnings Guidance

Walmart (NYSE:WMTGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.40-$6.48 for the period, compared to the consensus earnings per share estimate of $6.48. The company issued revenue guidance of $636.20 billion-$639.23 billion, compared to the consensus revenue estimate of $642.48 billion. Walmart also updated its FY24 guidance to 6.40-6.48 EPS.

Walmart Stock Performance

Shares of WMT stock opened at $169.74 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.26. The stock has a market cap of $456.87 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 3.46 and a beta of 0.53. The stock has a 50-day moving average of $162.53 and a 200-day moving average of $157.76. Walmart has a one year low of $136.09 and a one year high of $169.94.

Walmart (NYSE:WMTGet Free Report) last announced its quarterly earnings results on Thursday, August 17th. The retailer reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $161.63 billion during the quarter, compared to analysts’ expectations of $160.22 billion. Walmart had a return on equity of 21.47% and a net margin of 2.23%. Walmart’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. As a group, sell-side analysts expect that Walmart will post 6.45 earnings per share for the current year.

Analysts Set New Price Targets

WMT has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on Walmart from $190.00 to $195.00 and gave the company a buy rating in a research note on Tuesday. Piper Sandler reissued an overweight rating and set a $210.00 target price on shares of Walmart in a research note on Wednesday, September 27th. Barclays increased their target price on Walmart from $162.00 to $167.00 and gave the stock an overweight rating in a research note on Friday, August 18th. KeyCorp increased their target price on Walmart from $175.00 to $177.00 and gave the stock an overweight rating in a research note on Friday, August 18th. Finally, Wells Fargo & Company increased their target price on Walmart from $175.00 to $180.00 and gave the stock an overweight rating in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $178.36.

Get Our Latest Stock Analysis on WMT

Insider Buying and Selling

In related news, EVP John D. Rainey sold 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $161.37, for a total value of $161,370.00. Following the transaction, the executive vice president now owns 169,735 shares in the company, valued at $27,390,136.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Walmart news, EVP John D. Rainey sold 1,000 shares of Walmart stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $161.37, for a total value of $161,370.00. Following the transaction, the executive vice president now owns 169,735 shares in the company, valued at $27,390,136.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO C Douglas Mcmillon sold 9,708 shares of Walmart stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $162.99, for a total value of $1,582,306.92. Following the completion of the transaction, the chief executive officer now owns 1,451,801 shares in the company, valued at approximately $236,629,044.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,166 shares of company stock worth $5,066,701. Company insiders own 46.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WMT. Parkside Financial Bank & Trust increased its position in Walmart by 0.5% during the second quarter. Parkside Financial Bank & Trust now owns 15,876 shares of the retailer’s stock valued at $2,495,000 after acquiring an additional 75 shares during the last quarter. Simplicity Wealth LLC increased its position in Walmart by 1.7% during the fourth quarter. Simplicity Wealth LLC now owns 5,489 shares of the retailer’s stock valued at $778,000 after acquiring an additional 94 shares during the last quarter. Compton Capital Management Inc. RI increased its position in Walmart by 1.6% during the first quarter. Compton Capital Management Inc. RI now owns 6,366 shares of the retailer’s stock valued at $948,000 after acquiring an additional 100 shares during the last quarter. Snider Financial Group increased its position in Walmart by 0.4% in the first quarter. Snider Financial Group now owns 24,517 shares of the retailer’s stock worth $3,651,000 after buying an additional 103 shares in the last quarter. Finally, United Bank increased its position in Walmart by 4.6% in the first quarter. United Bank now owns 2,331 shares of the retailer’s stock worth $344,000 after buying an additional 103 shares in the last quarter. Institutional investors own 33.18% of the company’s stock.

About Walmart

(Get Free Report)

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 under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications.

Further Reading

Earnings History and Estimates for Walmart (NYSE:WMT)

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