Costco Wholesale Co. (NASDAQ:COST) Expected to Post Quarterly Sales of $49.61 Billion

Wall Street brokerages predict that Costco Wholesale Co. (NASDAQ:COST) will report $49.61 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Costco Wholesale’s earnings, with the highest sales estimate coming in at $50.68 billion and the lowest estimate coming in at $48.22 billion. Costco Wholesale reported sales of $43.21 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, December 9th.

On average, analysts expect that Costco Wholesale will report full year sales of $214.79 billion for the current financial year, with estimates ranging from $211.59 billion to $217.15 billion. For the next year, analysts anticipate that the business will post sales of $230.81 billion, with estimates ranging from $224.30 billion to $234.73 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Costco Wholesale.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.33. Costco Wholesale had a return on equity of 29.62% and a net margin of 2.56%. The firm had revenue of $61.44 billion for the quarter, compared to analyst estimates of $61.45 billion. During the same quarter last year, the firm posted $3.13 EPS. The business’s revenue was up 17.5% on a year-over-year basis.

Several research analysts recently commented on the company. Stifel Nicolaus increased their price objective on Costco Wholesale from $475.00 to $515.00 and gave the company a “buy” rating in a research note on Monday, November 1st. Tigress Financial reissued a “buy” rating and issued a $520.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 29th. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Monday, September 6th. Morgan Stanley raised their target price on Costco Wholesale from $500.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, September 24th. Finally, Wells Fargo & Company raised their target price on Costco Wholesale from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $496.23.

NASDAQ COST traded up $4.47 during mid-day trading on Monday, hitting $549.73. The stock had a trading volume of 2,315,610 shares, compared to its average volume of 2,180,508. The firm’s 50 day moving average is $481.58 and its 200 day moving average is $438.24. Costco Wholesale has a twelve month low of $307.00 and a twelve month high of $550.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.52. The stock has a market capitalization of $242.88 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 5.08 and a beta of 0.65.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, October 28th. Costco Wholesale’s payout ratio is presently 28.04%.

Several hedge funds and other institutional investors have recently modified their holdings of COST. Core Alternative Capital acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth about $25,000. Baillie Gifford & Co. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $31,000. KB Financial Partners LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $35,000. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $35,000. Finally, PSI Advisors LLC acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth about $37,000. 66.87% of the stock is currently owned by institutional investors and hedge funds.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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