Jefferies Group Comments on Costco Wholesale Corporation’s Q1 2018 Earnings (COST)

Costco Wholesale Corporation (NASDAQ:COST) – Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Costco Wholesale Corporation in a research report issued to clients and investors on Friday. Jefferies Group analyst D. Binder anticipates that the retailer will post earnings of $1.33 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $162.00 target price on the stock. Jefferies Group also issued estimates for Costco Wholesale Corporation’s Q2 2018 earnings at $1.41 EPS, Q3 2018 earnings at $1.55 EPS, Q4 2018 earnings at $2.19 EPS, FY2019 earnings at $6.98 EPS, FY2020 earnings at $7.52 EPS, FY2021 earnings at $8.20 EPS and FY2022 earnings at $9.00 EPS.

Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 22.33% and a net margin of 2.08%. The company had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis.

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A number of other equities research analysts have also recently weighed in on COST. BMO Capital Markets reaffirmed an “outperform” rating and set a $195.00 price target on shares of Costco Wholesale Corporation in a report on Friday, June 16th. Goldman Sachs Group, Inc. (The) cut Costco Wholesale Corporation from a “conviction-buy” rating to a “neutral” rating and dropped their price target for the company from $197.00 to $176.00 in a report on Friday, June 16th. Deutsche Bank AG cut Costco Wholesale Corporation from a “buy” rating to a “hold” rating and raised their price target for the company from $142.11 to $167.11 in a report on Monday, June 19th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Costco Wholesale Corporation in a report on Monday, June 19th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $190.00 price objective on shares of Costco Wholesale Corporation in a research report on Monday, June 19th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $178.50.

Shares of Costco Wholesale Corporation (NASDAQ COST) traded up 0.54% on Monday, reaching $157.71. The company’s stock had a trading volume of 1,384,652 shares. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 27.38 and a beta of 0.94. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18. The stock has a 50-day moving average of $159.88 and a 200 day moving average of $164.64.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Delta Asset Management LLC TN increased its stake in Costco Wholesale Corporation by 11.6% in the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after buying an additional 65 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in Costco Wholesale Corporation in the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC purchased a new stake in Costco Wholesale Corporation in the 2nd quarter valued at about $107,000. Mercer Capital Advisers Inc. increased its stake in Costco Wholesale Corporation by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after buying an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in Costco Wholesale Corporation by 16.7% in the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. 72.34% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.25, for a total value of $159,250.00. Following the transaction, the director now owns 4,974 shares of the company’s stock, valued at approximately $792,109.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock worth $481,760. 0.74% of the stock is owned by insiders.

About Costco Wholesale Corporation

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.

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

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