Analysts Forecast Costco Wholesale Co. (NASDAQ:COST) to Post Quarterly Sales of $50.84 Billion


Wall Street analysts expect Costco Wholesale Co. (NASDAQ:COST – Get Rating) to report sales of $50.84 billion in the current quarter, according to Zacks Investment Research. Eight analysts made estimates of Costco Wholesale’s earnings. The highest sales estimate is $52.90 billion and the lowest is $48.18 billion. Costco Wholesale reported sales of $45.28 billion in the same quarter last year, indicating a positive growth rate of 12.3% year over year. The company is expected to release its next results after the market closes on Monday, January 1.

On average, analysts expect Costco Wholesale to report sales of $222.32 billion for the current year, with estimates ranging from $216.61 billion to $227.08 billion. For next year, analysts expect the company to post sales of $240.61 billion, with estimates ranging from $231.14 billion to $250.25 billion. Zacks sales averages are an average based on a survey of research companies that cover Costco Wholesale.

Costco Wholesale (NASDAQ: COST – Get Rating) last released quarterly earnings data on Thursday, March 3. The retailer reported earnings per share (EPS) of $2.92 for the quarter, beating the consensus estimate of $2.74 by $0.18. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The company posted revenue of $51.90 billion for the quarter, versus $51.51 billion expected by analysts. In the same quarter last year, the company earned earnings per share of $2.14. The company’s revenue increased 15.9% year over year.

Several equity research analysts have recently released reports on the company. Loop Capital raised its price target on Costco Wholesale from $605.00 to $645.00 and gave the stock a “buy” rating in a Thursday, April 7 report. Robert W. Baird raised its target price on Costco Wholesale from $550.00 to $600.00 and gave the company an “outperform” rating in a Wednesday, Jan. 5 report. They noted that the move was a review call. Tigress Financial raised its target price on Costco Wholesale from $520.00 to $678.00 in a Thursday, April 14 report. Citigroup raised its target price on Costco Wholesale from $550.00 to $555.00 in a Thursday, Jan. 6, report. Finally, Truist Financial raised its price target on Costco Wholesale from $603.00 to $634.00 in a Thursday, April 7 report. Six investment analysts gave the stock a hold rating and twenty-three gave the company a buy rating. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Buy” and an average target price of $576.43.

COST stock opened at $528.08 on Wednesday. Costco Wholesale has a 52-week low of $371.11 and a 52-week high of $612.27. The stock’s fifty-day simple moving average is $557.52 and its 200-day simple moving average is $533.44. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt ratio of 0.33. The stock has a market capitalization of $234.06 billion, a price-to-earnings ratio of 42.55, a growth price-to-earnings ratio of 4.49 and a beta of 0.70.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13. Investors of record on Friday, April 29 will receive a dividend of $0.90. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. This represents an annualized dividend of $3.60 and a yield of 0.68%. The ex-dividend date is Thursday, April 28. Costco Wholesale’s payout ratio is currently 29.01%.

In other Costco Wholesale news, Director Kenneth D. Denman sold 250 shares of Costco Wholesale in a trade that took place on Wednesday, March 23. The stock was sold at an average price of $554.67, for a total value of $138,667.50. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President Claudine Adamo sold 500 shares of Costco Wholesale in a trade that took place on Friday, April 8. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the completion of the transaction, the executive vice president now owns 9,939 shares of the company, valued at $5,983,576.17. The disclosure of this sale can be found here. In the past three months, insiders have sold 9,248 shares of the company valued at $5,417,137. 0.22% of the shares are held by insiders.

A number of hedge funds have recently changed their holdings in the company. Contravisory Investment Management Inc. acquired a new position in Costco Wholesale stock during the first quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new position in Costco Wholesale stock during the fourth quarter worth approximately $28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Costco Wholesale stock during the fourth quarter worth approximately $30,000. PSI Advisors LLC acquired a new position in Costco Wholesale stock during the third quarter worth approximately $37,000. Finally, Mystic Asset Management Inc. acquired a new position in Costco Wholesale stock during the fourth quarter worth approximately $40,000. Institutional investors hold 67.52% of the company’s shares.

Costco Wholesale Company Profile (Get a rating)

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China and Taiwan. It offers branded and private label products in a range of merchandise categories.

Further reading

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Earnings history and estimates for Costco Wholesale (NASDAQ:COST)



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