Equities analysts predict that Costco Wholesale Co. (NASDAQ:COST) will announce $1.30 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Costco Wholesale’s earnings, with estimates ranging from $1.24 to $1.37. Costco Wholesale posted earnings of $1.24 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is scheduled to announce its next earnings results after the market closes on Thursday, May 25th.
According to Zacks, analysts expect that Costco Wholesale will report full-year earnings of $5.65 per share for the current fiscal year, with EPS estimates ranging from $5.50 to $5.90. For the next year, analysts expect that the business will post earnings of $6.43 per share, with EPS estimates ranging from $6.24 to $6.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Costco Wholesale.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.19. The company had revenue of $29.77 billion for the quarter, compared to analysts’ expectations of $29.75 billion. Costco Wholesale had a net margin of 2.02% and a return on equity of 20.06%. Costco Wholesale’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share.
Several brokerages have recently commented on COST. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a report on Friday, March 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $180.00 price objective on shares of Costco Wholesale in a report on Friday, March 3rd. Cowen and Company set a $190.00 price objective on Costco Wholesale and gave the company a “buy” rating in a report on Friday, March 3rd. Instinet reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 3rd. Finally, Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Friday, March 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $178.73.
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Costco Wholesale (NASDAQ:COST) traded down 0.78% during trading on Monday, reaching $168.84. The company had a trading volume of 1,422,469 shares. The firm has a market capitalization of $74.11 billion, a P/E ratio of 31.15 and a beta of 0.89. The stock has a 50 day moving average price of $169.16 and a 200 day moving average price of $160.30. Costco Wholesale has a 52 week low of $138.57 and a 52 week high of $178.71.
In other news, Director James D. Sinegal sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $166.35, for a total transaction of $16,635,000.00. Following the sale, the director now directly owns 717,296 shares in the company, valued at approximately $119,322,189.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $166.95, for a total value of $667,800.00. Following the sale, the vice president now owns 44,049 shares in the company, valued at $7,353,980.55. The disclosure for this sale can be found here. Insiders have sold a total of 125,948 shares of company stock worth $20,932,141 over the last 90 days. Insiders own 0.74% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Costco Wholesale by 1.7% in the fourth quarter. State Street Corp now owns 17,892,082 shares of the retailer’s stock worth $2,864,688,000 after buying an additional 306,669 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Costco Wholesale by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,644,774 shares of the retailer’s stock worth $1,775,944,000 after buying an additional 96,575 shares in the last quarter. Capital Research Global Investors raised its position in shares of Costco Wholesale by 2.2% in the third quarter. Capital Research Global Investors now owns 9,349,671 shares of the retailer’s stock worth $1,425,918,000 after buying an additional 199,619 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Costco Wholesale by 3.6% in the third quarter. BlackRock Fund Advisors now owns 5,930,106 shares of the retailer’s stock worth $904,400,000 after buying an additional 204,990 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Costco Wholesale by 17.2% in the third quarter. Morgan Stanley now owns 4,722,152 shares of the retailer’s stock worth $720,175,000 after buying an additional 693,510 shares in the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.
Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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