Costco Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Costco Wholesale Corporation COST is projected to release financial results for its first quarter, after the closing bell on Dec. 14, 2023.

Analysts expect the company to post quarterly earnings at $3.42 per share, up from year-ago earnings of $3.07 per share. The company’s revenue might come in at $57.68 billion for the latest quarter, according to data from Benzinga Pro.

Costco Wholesale recently reported November comparable sales growth of 3.5%. The company said net sales for the four weeks ended Nov. 26, 2023 rose 5.1%.

Costco shares closed at $642.00 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Oppenheimer analyst Rupesh Parikh maintained an Outperform rating and increased the price target from $630 to $675 on Dec. 13, 2023. This analyst has an accuracy rate of 70%.
• Stifel analyst Mark Astrachan maintained a Buy rating and boosted the price target from $595 to $615 on Nov. 30, 2023. This analyst has an accuracy rate of 82%.
• Truist Securities analyst Scot Ciccarelli reiterated a Buy rating with a price target of $619 on Nov. 30, 2023. This analyst has an accuracy rate of 73%.
• JP Morgan analyst Christopher Horvers maintained an Overweight rating and cut the price target from $620 to $605 on Nov. 2, 2023. This analyst has an accuracy rate of 73%.
• B of A Securities analyst Robert Ohmes maintained a Buy rating and increased the price target from $575 to $610 on Sept. 27, 2023. This analyst has an accuracy rate of 75%.

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