Target Corp TGT is trading lower Wednesday morning after reporting better-than-expected third-quarter financial results. Walmart Inc WMT fell after reporting better-than-expected financial results on Tuesday.
What Happened: Target reported quarterly adjusted earnings of $3.03 per share, which beat the estimate of $2.83 per share. The company reported quarterly revenue of $25.29 billion, which beat the estimate of $24.78 billion.
Walmart reported quarterly earnings of $1.45 per share, which beat the estimate of $1.40 per share. The company reported quarterly revenue of $140.53 billion, which beat the estimate of $135.6 billion.
Related Link: Walmart Q3 Earnings Top Estimates, Lifts FY22 Outlook
Cramer's Take: "The one that probably makes the most sense to buy is Target," Jim Cramer said Wednesday on CNBC's "Squawk Box."
Everything is terrific at Target right now, Cramer said: "Perhaps they didn't guide up enough."
Walmart was initially up following its quarterly report. However, the stock traded lower after the company made it clear it wouldn't implement price increases, Cramer said.
There were no flaws in Target's report, according to Cramer.
"Target said nothing that makes it so it merits being down this much," Cramer said. "As they come down, Target is a better buy than Walmart."
TGT, WMT Price Action: At publication time, Target was down 4.48% at $254.46 and Walmart was down 0.39% at $142.61.
Photos: Mike Mozart from Flickr.
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