Costco Q4 Preview: Stock Hits 8-Month Lows, Will Higher Gas Prices Help Turn Things Around?
Article excerpt
Retail giant Costco Wholesale Corp COST could show the positives and negatives of higher gas prices when the company reports fourth-quarter financial results Thursday after market close. Here are the earnings estimates, what experts are saying ahead of the report and key items to watch. • Costco Wholesale stock is trading near recent lows. What’s ahead for COST stock? Costco Q4 Earnings Estimates Analysts expect Costco to report fourth-quarter revenue of $94.82 billion, up from $86.16 billion in last year’s fourth quarter, according to data from Benzinga Pro. The company has beaten analyst estimates for revenue in six straight quarters and in seven of the past 10 quarters overall. Analysts expect Costco to report fourth-quarter earnings per share of $6.53, up from $5.87 in last year’s fourth quarter. The company has beaten analyst estimates for earnings per share in five straight quarters and in eight of the past 10 quarters overall. What Experts Are Saying Freedom Capital Markets Chief Market Strategist Jay Woods says the key things for Costco’s quarter are comparable sales, membership growth and "the impact of higher fuel prices" on margins. "It may also give us a strong look at consumer spending habits," Woods said in a weekly newsletter. Woods says Costco stock has moved an average of +/- 2.73% after recent earnings releases. Looking at the Costco chart, Woods says there...
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A report from Placer.ai shows Costco having 8.2% year-over-year visitor growth during the second quarter of the calendar year.
