This post was just published on ZYX Buy Change Alert
WMT just reported EPS of $1.08 vs consensus of $1.07; revenues of $113.9 billion vs consensus $114.95 billion.
For the next quarter WMT projects $1.53 – $1.58 vs consensus of $1.59. For the year, WMT projects $4.88 – $4.93 vs consensus of $4.94.
Earnings are a little light and WMT is selling off in the pre-market. As of this writing the stock is trading around $69.25.
A dip in WMT is a buying opportunity. Under normal market conditions, we would have recommended initiating a position or adding to a position right here in the pre-market. However, at this time the risk in the overall market is high, therefore it is prudent to wait for a further pullback.
What To Do Now?
Those in the stock and are aggressive may continue to hold and consider adding a 10% tranche in the zone of $65.27 to $67.81.
Those in the stock and are conservative may continue to hold and add a 10% tranche in the zone of $64.36 to $66.31.
Those not in the stock may initiate a 20% tranche in the zones described above.
