Q2 2020 Earnings Estimate for Costco Wholesale Co. Issued By Oppenheimer (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Stock analysts at Oppenheimer lifted their Q2 2020 EPS estimates for Costco Wholesale in a note issued to investors on Tuesday, January 21st. Oppenheimer analyst R. Parikh now forecasts that the retailer will earn $2.04 per share for the quarter, up from their prior estimate of $2.00. Oppenheimer has a “Outperform” rating and a $335.00 price objective on the stock. Oppenheimer also issued estimates for Costco Wholesale’s Q3 2020 earnings at $1.99 EPS, Q4 2020 earnings at $2.85 EPS, FY2020 earnings at $8.61 EPS, FY2021 earnings at $9.20 EPS and FY2022 earnings at $9.90 EPS.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 12th. The retailer reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. The firm had revenue of $37.04 billion for the quarter, compared to the consensus estimate of $37.40 billion. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada raised their target price on Costco Wholesale from $329.00 to $334.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James increased their price target on Costco Wholesale from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Northcoast Research cut Costco Wholesale from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 16th. Guggenheim reiterated a “hold” rating on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Wells Fargo & Co increased their price target on Costco Wholesale from $290.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $302.05.

Shares of COST stock opened at $313.26 on Wednesday. The stock’s fifty day moving average price is $296.06 and its two-hundred day moving average price is $290.65. The company has a market cap of $134.59 billion, a PE ratio of 37.16, a P/E/G ratio of 4.38 and a beta of 0.89. Costco Wholesale has a fifty-two week low of $205.75 and a fifty-two week high of $307.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.49 and a current ratio of 1.01.

Hedge funds have recently bought and sold shares of the company. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Costco Wholesale by 27.3% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,539 shares of the retailer’s stock worth $1,308,000 after acquiring an additional 974 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Costco Wholesale by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 15,788 shares of the retailer’s stock valued at $4,549,000 after buying an additional 1,140 shares during the period. BBVA USA Bancshares Inc. grew its stake in shares of Costco Wholesale by 55.9% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 19,013 shares of the retailer’s stock valued at $5,478,000 after buying an additional 6,818 shares during the period. HWG Holdings LP grew its stake in shares of Costco Wholesale by 17.4% in the 3rd quarter. HWG Holdings LP now owns 2,296 shares of the retailer’s stock valued at $662,000 after buying an additional 340 shares during the period. Finally, Man Group plc grew its stake in shares of Costco Wholesale by 23.0% in the 3rd quarter. Man Group plc now owns 63,948 shares of the retailer’s stock valued at $18,424,000 after buying an additional 11,941 shares during the period. 70.10% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $293.99, for a total transaction of $587,980.00. Following the completion of the transaction, the vice president now directly owns 59,679 shares of the company’s stock, valued at approximately $17,545,029.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph P. Portera sold 14,095 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $299.52, for a total value of $4,221,734.40. Following the transaction, the vice president now directly owns 6,211 shares of the company’s stock, valued at $1,860,318.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,313 shares of company stock valued at $9,099,357. 0.22% of the stock is owned by corporate insiders.

Costco Wholesale 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.

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Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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