Walmart Stock Plunges 7% on Q2 Guidance, Executive Departures
WMT sits 29% above its 52-week low of $93.43.
Summary
Walmart's stock dropped approximately 7.3% after the company reported Q1 adjusted EPS of $0.66 and revenue of $177.8 billion, beating estimates. Despite the beat, raised distribution and fuel costs trimmed results, and the company issued Q2 EPS guidance of $0.72–$0.74. This follows previous news of executive reshuffling, with Sam's Club COO Tom Ward retiring and Cedric Clark leaving U.S. store operations. RBC Capital Markets also lowered its price target to $137 from $140, reflecting a cautious near-term outlook.
At the time of this announcement, WMT was trading at $120.06 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $958.7B. The 52-week trading range was $93.43 to $135.16. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.