Wal-Mart Stores (WMT) was Upgraded by Cowen to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 83 from a previous price target of $76 . Earlier the firm had a rating of “Market Perform ” on the company shares. Cowen advised their investors in a research report released on Sep 12, 2016.
Many Wall Street Analysts have commented on Wal-Mart Stores. Company shares were Upgraded by Cowen on Sep 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 83 from a previous price target of $76 .Company shares were Reiterated by Telsey Advisory Group on Aug 19, 2016 to “Market Perform”, Firm has raised the Price Target to $ 78 from a previous price target of $71 .Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Underperform”, Firm has raised the Price Target to $ 76 from a previous price target of $73 .
On the company’s financial health, Wal-Mart Stores reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $1.02. The company had revenue of $119405.00 million for the quarter, compared to analysts expectations of $119327.18 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
Wal-Mart Stores closed down -0.94 points or -1.29% at $72.06 with 9,618,272 shares getting traded on Wednesday. Post opening the session at $73, the shares hit an intraday low of $72.01 and an intraday high of $73.05 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Aug 29, 2016, Steven P Whaley (Senior Vice President) sold 1,100 shares at $71.46 per share price. According to the SEC, on Jul 1, 2016, Rosalind G Brewer (Executive Vice President) sold 10,794 shares at $71.65 per share price. On Feb 26, 2016, Rollin L. Ford (EVP) sold 740 shares at $67.65 per share price, according to the Form-4 filing with the securities and exchange commission.
Wal-Mart Stores Inc. is engaged in the operation of retail wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S. Walmart International and Sam’s Club. The Walmart U.S. segment operates retail stores in all 50 states in the United States Washington D.C. and Puerto Rico with three primary store formats as well as digital retail. The Walmart International segment consists of operations in 26 countries outside of the United States and includes numerous formats divided into three main categories: retail wholesale and other. The Sam’s Club consists of membership-only warehouse clubs and operates in 48 states in the United States and in Puerto Rico as well as digital retail.