Costco Wholesale Corporation (NASDAQ: COST) is in the spotlight Thursday ahead of the company’s fourth-quarter earnings report due after the market closes.
What To Know: Costo will report financial results for the fourth quarter after the market close on Thursday. Analysts anticipate earnings per share of $5.80 and revenue of $86.11 billion, according to estimates from Benzinga Pro.
In the prior quarter, the company reported earnings per share of $4.28, beating the consensus estimate of $4.24. Costco also reported revenue of $63.20 billion, beating the consensus estimate of $63.19 billion.
Costco also reports sales results on a monthly basis. The company said earlier this month that retail sales were up 6.1% in August and up 5.1% for the quarter. Total company sales were up 6.3% last month and 5.7% in the fourth quarter.
Ahead of the earnings report, Wolfe Research analyst Spencer Hanus assumed coverage on Costco with a Peer Perform rating. Telsey analyst Joseph Feldman also noted that Costco stores have had higher traffic levels versus competitors following a series of checks in the New Jersey area.
“We expect Costco to remain a share gainer, with its value-focused merchandising and high member loyalty,” the analyst said.
The consensus price target for Costco is $1,047.26, with the lowest price target at $890 and the highest price target currently at $1,225, according to Benzinga data.
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COST Price Action: At the time of writing, Costco shares are trading 0.35% lower at $941.95, according to data from Benzinga Pro.
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