Costco Wholesale Corporation (COST) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Costco Wholesale Corporation (NASDAQ:COST) issued its quarterly earnings results on Thursday. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06, Briefing.com reports. Costco Wholesale Corporation had a net margin of 2.06% and a return on equity of 20.45%. The firm had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the prior year, the business posted $1.77 earnings per share. Costco Wholesale Corporation’s revenue for the quarter was up 15.7% compared to the same quarter last year.
Shares of Costco Wholesale Corporation (COST) opened at 167.07 on Friday. The firm’s 50 day moving average is $160.00 and its 200-day moving average is $164.90. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The firm has a market capitalization of $73.28 billion, a PE ratio of 29.01 and a beta of 0.94.
COST has been the subject of several research reports. UBS AG upgraded shares of Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, June 26th. Deutsche Bank AG set a $155.00 price objective on shares of Costco Wholesale Corporation and gave the stock a “hold” rating in a research note on Friday. Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale Corporation in a research note on Thursday. Robert W. Baird reiterated a “buy” rating and set a $200.00 price objective on shares of Costco Wholesale Corporation in a research note on Wednesday. Finally, BidaskClub upgraded shares of Costco Wholesale Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $179.57.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of Costco Wholesale Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $157.59, for a total transaction of $157,590.00. Following the sale, the director now owns 6,974 shares in the company, valued at $1,099,032.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,000 shares of company stock worth $481,760 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
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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.
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