FY2017 EPS Estimates for Costco Wholesale Corporation Increased by Jefferies Group (COST)
Costco Wholesale Corporation (NASDAQ:COST) – Equities researchers at Jefferies Group raised their FY2017 earnings per share estimates for Costco Wholesale Corporation in a report issued on Wednesday. Jefferies Group analyst D. Binder now anticipates that the retailer will post earnings of $5.79 per share for the year, up from their prior estimate of $5.78. Jefferies Group also issued estimates for Costco Wholesale Corporation’s Q4 2017 earnings at $2.05 EPS and FY2018 earnings at $6.50 EPS.
Costco Wholesale Corporation (NASDAQ:COST) last posted its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 20.45% and a net margin of 2.06%. The business had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year.
Several other research firms also recently weighed in on COST. Vetr upgraded Costco Wholesale Corporation from a “buy” rating to a “strong-buy” rating and set a $182.22 target price on the stock in a research report on Monday, August 21st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Costco Wholesale Corporation in a research report on Thursday, August 24th. BidaskClub downgraded Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a research report on Thursday, August 3rd. Finally, Cowen and Company set a $180.00 target price on Costco Wholesale Corporation and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $177.93.
Costco Wholesale Corporation (NASDAQ COST) opened at 167.07 on Friday. The stock’s 50 day moving average price is $160.00 and its 200 day moving average price is $164.90. Costco Wholesale Corporation has a 12-month low of $142.11 and a 12-month high of $183.18. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 29.01 and a beta of 0.94. Costco Wholesale Corporation also was the recipient of unusually large options trading on Thursday. Stock traders acquired 21,435 call options on the stock. This represents an increase of 266% compared to the average volume of 5,855 call options.
A number of hedge funds and other institutional investors have recently modified their holdings of COST. Delta Asset Management LLC TN grew its stake in Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after purchasing an additional 65 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Costco Wholesale Corporation in the 2nd quarter worth approximately $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Costco Wholesale Corporation in the 2nd quarter worth approximately $107,000. Mercer Capital Advisers Inc. grew its position in shares of Costco Wholesale Corporation by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock worth $110,000 after acquiring an additional 23 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its position in shares of Costco Wholesale Corporation by 16.7% in the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.35% of the company’s stock.
In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $157.59, for a total transaction of $157,590.00. Following the completion of the sale, the director now owns 6,974 shares in the company, valued at approximately $1,099,032.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $481,760. 0.74% of the stock is owned by insiders.
Costco Wholesale Corporation Company Profile
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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