Costco Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Costco Wholesale Corporation (NASDAQ:COST) is expected to report increased Q1 earnings with an estimate of $3.42 per share, up from $3.07 per share a year ago. Revenue is projected at $57.68 billion. The company showed a 3.5% growth in November comparable sales and a 5.1% increase in net sales for the four weeks ended Nov. 26, 2023. Shares closed at $642.00. Analysts from Oppenheimer, Stifel, Truist Securities, JP Morgan, and B of A Securities have provided ratings and adjusted price targets for Costco's stock.
December 14, 2023 | 3:27 pm
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Costco is anticipated to report higher Q1 earnings with a positive outlook from analysts, who have revised their price targets upwards. The company has shown solid sales growth in November.
The positive earnings forecast and recent sales growth figures are likely to instill investor confidence in Costco's stock performance in the short term. Analysts' revised price targets suggest a bullish sentiment, which could further drive the stock price up post-earnings announcement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100