Costco Wholesale Corp. Expected to Earn Q1 2017 Earnings of $1.25 Per Share (COST)
Costco Wholesale Corp. (NASDAQ:COST) – Jefferies Group issued their Q1 2017 earnings per share estimates for Costco Wholesale Corp. in a report issued on Friday. Jefferies Group analyst D. Binder forecasts that the brokerage will post earnings of $1.25 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $135.00 price target on the stock. Jefferies Group also issued estimates for Costco Wholesale Corp.’s Q2 2017 earnings at $1.40 EPS, Q3 2017 earnings at $1.34 EPS, Q4 2017 earnings at $1.89 EPS, FY2017 earnings at $5.87 EPS and FY2018 earnings at $6.64 EPS.
Costco Wholesale Corp. (NASDAQ:COST) last issued its earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The business earned $35.73 billion during the quarter. During the same period last year, the business earned $1.73 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year.
COST has been the subject of a number of other reports. Robert W. Baird set a $175.00 price target on Costco Wholesale Corp. and gave the company a “buy” rating in a research note on Friday, September 23rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $178.00 price target (up from $177.00) on shares of Costco Wholesale Corp. in a research note on Friday. Barclays PLC set a $158.00 price target on Costco Wholesale Corp. and gave the company a “hold” rating in a research note on Sunday. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Costco Wholesale Corp. in a research note on Wednesday, September 7th. Finally, Guggenheim reissued a “neutral” rating on shares of Costco Wholesale Corp. in a research note on Sunday, September 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. Costco Wholesale Corp. has a consensus rating of “Buy” and a consensus price target of $172.74.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 151.01 on Monday. The firm has a market capitalization of $66.07 billion, a P/E ratio of 28.33 and a beta of 0.71. Costco Wholesale Corp. has a 52 week low of $138.57 and a 52 week high of $169.73. The firm has a 50 day moving average price of $157.58 and a 200-day moving average price of $156.32.
In other Costco Wholesale Corp. news, Director John W. Meisenbach sold 5,737 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total transaction of $962,324.38. Following the transaction, the director now directly owns 4,652 shares in the company, valued at $780,326.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard A. Galanti sold 2,400 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $167.08, for a total value of $400,992.00. Following the transaction, the chief financial officer now owns 30,536 shares in the company, valued at $5,101,954.88. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. UMB Bank N A MO raised its position in Costco Wholesale Corp. by 4.5% in the second quarter. UMB Bank N A MO now owns 167,058 shares of the retailer’s stock valued at $26,235,000 after buying an additional 7,234 shares during the period. Front Street Capital Management Inc. acquired a new stake in shares of Costco Wholesale Corp. during the second quarter valued at about $9,935,000. First Republic Investment Management Inc. increased its stake in shares of Costco Wholesale Corp. by 7.5% in the first quarter. First Republic Investment Management Inc. now owns 271,526 shares of the retailer’s stock valued at $42,787,000 after buying an additional 18,866 shares in the last quarter. Carret Asset Management LLC acquired a new stake in shares of Costco Wholesale Corp. during the second quarter valued at about $225,000. Finally, Private Advisor Group LLC increased its stake in shares of Costco Wholesale Corp. by 10.3% in the second quarter. Private Advisor Group LLC now owns 25,220 shares of the retailer’s stock valued at $3,935,000 after buying an additional 2,355 shares in the last quarter. Institutional investors own 73.02% of the company’s stock.
About Costco Wholesale Corp.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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