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Walmart [WMT] is expected to deliver a strong quarter in its Q3 earnings report scheduled for Tuesday (November 19), according Wall Street analysts estimates. Yahoo Finance estimates the revenue may increase to $167.7 billion from $160.8 billion year over year.
The estimates show Walmart net income would show an increase to $4.24 billion, up from $453 million in the same period last year, when the company was hit by disruption of some of its investments.
Analysts that Visible Alpha contracted are bullish on the stock, with 22 of the 23 analysts rating the stock as a "buy" and just one analyst assigning it "hold" status. The market observers expect the stock to deliver an average target price of $86.43, which is almost 3% above Friday's close.
Walmart's adjusted profits are expected to rise to $4.26 billion from $4.13 billion in the second quarter, the Yahoo Finance report says.
Melius Research analysts underscore the retailer's "concerted effort" in recent years to prepare for a "pressured macroeconomic environment" in which it could win customers from dollar-store rivals.
Bank of America analysts also said that advertising revenue is a key part of Walmart's business, as its high profit margins can help improve the company's overall profits.