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Wal-Mart Stores (WMT) Announces Quarterly Earnings Results
Over the last six months, Wal-Mart Stores Inc NYSE:WMT has seen 0 insider purchases, and 1 insider sale. The stock has a 50 day moving average price of $72.44 and a 200 day moving average price of $77.70.
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Wal-Mart Stores, Inc. NYSE:WMT is engaged in the operation of retail, wholesale and other units in various formats around the world. The company also warned of increased spending to expand its e-commerce infrastructure, as a part of its efforts to compete with rival Amazon.com Inc, which recently left behind WMT in market value. As per the latest information, Barclays Lowers the price target to $73.00 per share from a prior target of $80.00.
Separately, TheStreet Ratings team rates WAL-MART STORES INC as a Buy with a ratings score of B-.
Wal-Mart’s second-quarter earnings report was a mixed bag: Its investments to overhaul its stores are helping to perk up sales, but they’re causing more pain to the bottom line than expected. Finally, Stephens cut their target price on Wal-Mart Stores from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. The Company shares has received a rating of Buy from 3 Wall Street Analysts. The mean target price is $79.95 according to First Call. On a constant-currency basis, total revenue was $124.5 billion, up from the comparable quarter, when FX-neutral revenues were $120.1 billion.
Wal-Mart reported earnings of $1.08 per share for its second fiscal quarter, compared to the consensus estimate of $1.12 per share.
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Wal-Mart announced in February that it would spend $1 billion for training and higher pay, which will affect profit this year. The business’s quarterly revenue was up.0% on a year-over-year basis. (NYSE:WMT) felt the need to boost staff wages was that the company had noted a decline in its customer satisfaction ratings and wanted to shore things up. The Company operates through three business segments: Walmart U.S., Walmart global and Sam’s Club. The company has a market cap of $223,764 million and the number of outstanding shares has been calculated to be 3,220,549,000 shares. 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 global section includes numerous formats broken up into three principal types: retail, wholesale and other and consists of operations in 26 countries outside the United States.