Analysts Adjust Walmart Estimates: Mixed Responses To Q3 Results with Focus On Sales Growth & Expense Concerns
Portfolio Pulse from Lekha Gupta
Following Walmart Inc's (NYSE:WMT) Q3 FY24 results, analysts have adjusted their price targets and estimates. Walmart reported a 5.2% Y/Y sales growth to $160.8 billion, surpassing consensus, and adjusted EPS of $1.53, beating last year's and consensus figures. The company raised its FY24 net sales growth outlook and adjusted EPS forecast slightly. Analysts from DA Davidson, BMO Capital Markets, RBC Capital Markets, Stifel, B Of A Securities, and Goldman Sachs provided mixed responses, focusing on sales growth and concerns over expenses. Price targets ranged from $168 to $190, with various adjustments to revenue and EPS estimates for FY24 and FY25.
November 17, 2023 | 7:40 pm
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Walmart Inc. reported better-than-expected Q3 FY24 results with sales and adjusted EPS above consensus. The company also raised its FY24 sales and EPS outlook. Analysts have mixed views, adjusting price targets and estimates, with concerns over expenses but noting strong sales growth.
The positive earnings report and raised outlook for FY24 are likely to instill investor confidence and could lead to a short-term positive impact on Walmart's stock price. However, concerns over expenses may temper some of the optimism. The adjustments in price targets by analysts reflect a generally positive but cautious outlook.
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