Analysts Offer Predictions for Costco Wholesale Co.’s Q3 2018 Earnings (COST)

Costco Wholesale Co. (NASDAQ:COST) – Jefferies Group upped their Q3 2018 earnings per share (EPS) estimates for shares of Costco Wholesale in a research note issued on Wednesday. Jefferies Group analyst D. Binder now expects that the retailer will post earnings per share of $1.68 for the quarter, up from their previous forecast of $1.55. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Costco Wholesale’s Q4 2018 earnings at $2.35 EPS, FY2019 earnings at $7.72 EPS, FY2020 earnings at $8.31 EPS, FY2021 earnings at $9.05 EPS and FY2022 earnings at $9.86 EPS.

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Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.03). The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $32.73 billion. Costco Wholesale had a return on equity of 24.74% and a net margin of 2.18%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share.

Several other research analysts also recently issued reports on the company. Oppenheimer upped their price objective on Costco Wholesale from $180.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, January 8th. BMO Capital Markets raised Costco Wholesale from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $192.73 to $215.00 in a report on Monday, December 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale in a report on Monday, December 4th. Morgan Stanley set a $175.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a report on Friday, December 15th. Finally, Argus upped their price objective on Costco Wholesale to $200.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $190.76.

Shares of Costco Wholesale (NASDAQ:COST) opened at $187.46 on Monday. Costco Wholesale has a 12-month low of $150.00 and a 12-month high of $199.88. The company has a current ratio of 1.00, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $82,270.00, a P/E ratio of 28.66, a P/E/G ratio of 3.05 and a beta of 0.97.

The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 15th. Costco Wholesale’s dividend payout ratio (DPR) is currently 30.58%.

In related news, Director James D. Sinegal sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $192.06, for a total transaction of $5,761,800.00. Following the sale, the director now owns 746,209 shares of the company’s stock, valued at approximately $143,316,900.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul G. Moulton sold 11,674 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $188.98, for a total value of $2,206,152.52. Following the sale, the vice president now directly owns 33,573 shares in the company, valued at approximately $6,344,625.54. The disclosure for this sale can be found here. In the last three months, insiders sold 119,859 shares of company stock worth $22,789,730. 0.58% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC bought a new position in Costco Wholesale during the 3rd quarter worth about $102,000. Jacobus Wealth Management Inc. bought a new position in Costco Wholesale during the 3rd quarter worth about $103,000. Assetmark Inc. increased its holdings in Costco Wholesale by 137.0% during the 4th quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock worth $105,000 after purchasing an additional 326 shares in the last quarter. Shamrock Asset Management LLC increased its holdings in Costco Wholesale by 171.3% during the 3rd quarter. Shamrock Asset Management LLC now owns 662 shares of the retailer’s stock worth $109,000 after purchasing an additional 418 shares in the last quarter. Finally, Zions Bancorporation increased its holdings in Costco Wholesale by 148.4% during the 3rd quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock worth $113,000 after purchasing an additional 411 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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About Costco Wholesale

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 (NASDAQ:COST)

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