Walmart will announce its second-quarter report before the open on Thursday, Aug. 15
Walmart Inc (NYSE:WMT) will report second-quarter results before the open on Thursday, Aug. 15, the same day as the release of U.S. retail sales data, with both expected to give valuable insight into the sector.
Plenty of analysts are praising WMT leading up to the event, including J.P. Morgan Securities. The firm currently holds an "overweight" rating and is hopeful of another beat-and-raise to follow the one in May. Plus, CRFA and Stifel today raised their price targets to $75 and $73, respectively. Of the 31 analysts covering the stock, 28 carry a "buy" or better rating.
Walmart stock has seen a string of record highs this year, with its most recent peak of $71.33 occurring on July 19. Up 28.5% since the start of the year, WMT is inching lower ahead of the event, last seen down 1.4% at $67.74 today.
Walmart stock has moved higher after six of its last eight earnings reports, including a 7% pop in May. This time, the options pits are pricing in a next-day swing of 8%, regardless of direction, which is higher than the 4.3% move the equity has averaged over the past two years.