Costco Wholesale Co. (COST) Forecasted to Post Q2 2018 Earnings of $1.42 Per Share
Costco Wholesale Co. (NASDAQ:COST) – Investment analysts at Oppenheimer upped their Q2 2018 EPS estimates for Costco Wholesale in a research report issued to clients and investors on Monday. Oppenheimer analyst B. Nagel now forecasts that the retailer will earn $1.42 per share for the quarter, up from their previous forecast of $1.40. Oppenheimer currently has a “Outperform” rating and a $210.00 price objective on the stock. Oppenheimer also issued estimates for Costco Wholesale’s Q3 2018 earnings at $1.66 EPS.
A number of other brokerages have also commented on COST. Susquehanna Bancshares lifted their price target on Costco Wholesale from $205.00 to $215.00 and gave the company a “positive” rating in a research note on Friday, December 15th. BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $192.73 to $215.00 in a research note on Monday, December 18th. Vetr raised Costco Wholesale from a “sell” rating to a “hold” rating and set a $186.56 price target on the stock in a research note on Monday, December 18th. Barclays reissued a “buy” rating and set a $208.00 price target on shares of Costco Wholesale in a research note on Tuesday, December 19th. Finally, Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, January 5th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $188.90.
Shares of Costco Wholesale (NASDAQ:COST) traded up $2.39 during mid-day trading on Tuesday, hitting $187.81. The stock had a trading volume of 946,598 shares, compared to its average volume of 3,170,000. Costco Wholesale has a 12-month low of $150.00 and a 12-month high of $195.35. The firm has a market capitalization of $82,480.00, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a return on equity of 23.39% and a net margin of 2.09%. The firm had revenue of $31.81 billion for the quarter, compared to analyst estimates of $31.01 billion. During the same period last year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis.
In other Costco Wholesale news, VP Richard A. Galanti sold 5,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $160.58, for a total value of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares in the company, valued at $6,647,369.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul G. Moulton sold 4,381 shares of Costco Wholesale stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $168.16, for a total value of $736,708.96. Following the completion of the sale, the vice president now owns 52,858 shares of the company’s stock, valued at $8,888,601.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,027 shares of company stock valued at $14,914,835. 0.58% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Costco Wholesale by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after purchasing an additional 937,121 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Costco Wholesale by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock valued at $3,983,097,000 after acquiring an additional 703,825 shares in the last quarter. Capital World Investors increased its holdings in shares of Costco Wholesale by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock valued at $2,843,102,000 after acquiring an additional 1,007,720 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Costco Wholesale by 2.3% during the second quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock valued at $1,484,350,000 after acquiring an additional 207,675 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Costco Wholesale by 14.4% during the third quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock valued at $1,118,138,000 after acquiring an additional 858,969 shares in the last quarter. Institutional investors and hedge funds own 70.91% of the company’s stock.
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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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