RBC Capital analysts provided their outlook on Walmart Inc. (NYSE:WMT) ahead of the upcoming Q3 results, expecting U.S. comp growth of 3.0% (vs. Street’s 3.3%) and EPS of $1.31 (in-line with estimates).
Based on their channel work RBC Capital has an upside bias on top-line and thinks their operating margin estimate of 3.6% is reasonable. The analysts believe the company’s current premium to the market is justified given its defensive qualities amid a deteriorating consumer environment.
Q3 results aside, the analysts believe investors will be most focused on: (1) management’s assessment of the U.S. consumer, and (2) the company’s progress in clearing inventory. Barring any major surprises, analysts think investors will continue to hide in Walmart as a relative “safety” play.
CWEB Analyst’s have initiated a STRONG BUY Rating for Walmart (NYSE:WMT) due to economic recovery and holiday sales.
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