Q3 2018 EPS Estimates for Costco Raised by Oppenheimer (COST)

Costco (NASDAQ:COST) – Equities researchers at Oppenheimer upped their Q3 2018 earnings per share (EPS) estimates for shares of Costco in a research note issued to investors on Monday, May 14th. Oppenheimer analyst B. Nagel now forecasts that the retailer will post earnings of $1.70 per share for the quarter, up from their previous forecast of $1.64.

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

A number of other research analysts have also recently issued reports on the stock. Loop Capital assumed coverage on shares of Costco in a research note on Wednesday. They issued a “buy” rating and a $224.00 price objective on the stock. Wells Fargo raised shares of Costco from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $191.42 to $188.91 in a research note on Monday, April 16th. BidaskClub raised shares of Costco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $205.00 target price (down previously from $209.00) on shares of Costco in a research note on Thursday, March 8th. Finally, Vetr cut shares of Costco from a “buy” rating to a “hold” rating and set a $195.68 target price on the stock. in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $193.37.

Shares of Costco opened at $199.60 on Wednesday, Marketbeat reports. The company has a market capitalization of $85.78 billion, a P/E ratio of 34.30, a PEG ratio of 2.76 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54. Costco has a 1 year low of $196.05 and a 1 year high of $198.96.

A number of hedge funds have recently added to or reduced their stakes in the stock. CNB Bank lifted its holdings in Costco by 17.2% in the first quarter. CNB Bank now owns 1,775 shares of the retailer’s stock valued at $335,000 after buying an additional 261 shares during the period. CENTRAL TRUST Co lifted its holdings in Costco by 1.0% in the fourth quarter. CENTRAL TRUST Co now owns 26,520 shares of the retailer’s stock valued at $4,936,000 after buying an additional 265 shares during the period. Fiduciary Trust Co. lifted its holdings in Costco by 3.0% in the fourth quarter. Fiduciary Trust Co. now owns 9,116 shares of the retailer’s stock valued at $1,696,000 after buying an additional 265 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Costco by 2.1% in the first quarter. Gamco Investors INC. ET AL now owns 13,065 shares of the retailer’s stock valued at $2,462,000 after buying an additional 265 shares during the period. Finally, Boston Financial Mangement LLC lifted its holdings in Costco by 0.3% in the fourth quarter. Boston Financial Mangement LLC now owns 107,714 shares of the retailer’s stock valued at $20,048,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 72.99% of the company’s stock.

In other news, insider Russell D. Miller sold 12,393 shares of Costco stock in a transaction on Thursday, April 19th. The shares were sold at an average price of $194.12, for a total transaction of $2,405,729.16. Following the transaction, the insider now owns 1 shares in the company, valued at $194.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $191.31, for a total transaction of $573,930.00. Following the completion of the transaction, the director now owns 8,654 shares in the company, valued at approximately $1,655,596.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,067 shares of company stock worth $11,700,142. 0.74% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 10th. This is a positive change from Costco’s previous quarterly dividend of $0.50. Costco’s payout ratio is 39.18%.

Costco Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

Earnings History and Estimates for Costco (NASDAQ:COST)

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