What's Going On With Costco Stock Thursday?
Portfolio Pulse from Dylan Berman
Costco Wholesale Corporation (NASDAQ:COST) shares are rising ahead of the company's third-quarter earnings release. Analysts expect adjusted EPS of $3.70 and revenue of $58.06 billion. Last quarter, Costco beat EPS estimates but missed revenue targets. Stifel analyst Mark Astrachan predicts a consumer spending shift could benefit Costco, maintaining a Buy rating on the stock.
May 30, 2024 | 6:10 pm
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Costco shares are rising ahead of its Q3 earnings release. Analysts expect adjusted EPS of $3.70 and revenue of $58.06 billion. Last quarter, Costco beat EPS estimates but missed revenue targets. Stifel analyst Mark Astrachan maintains a Buy rating, citing a potential consumer spending shift in Costco's favor.
The anticipation of Costco's Q3 earnings release, coupled with positive analyst expectations and a potential consumer spending shift, is driving the stock price up. The market is optimistic about Costco's performance, as indicated by the rising share price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100