Costco Wholesale (COST) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Costco Wholesale (NASDAQ:COST) released its earnings results on Thursday. The retailer reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01, Briefing.com reports. The company had revenue of $31.81 billion during the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS.
Shares of Costco Wholesale (NASDAQ:COST) traded down $1.75 during midday trading on Friday, reaching $186.53. The company’s stock had a trading volume of 3,738,900 shares, compared to its average volume of 3,097,922. Costco Wholesale has a 1 year low of $150.00 and a 1 year high of $191.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. The firm has a market capitalization of $82,276.40, a price-to-earnings ratio of 32.35, a PEG ratio of 3.05 and a beta of 0.98.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is presently 32.89%.
COST has been the subject of several research analyst reports. Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 target price for the company in a research note on Monday, August 21st. Deutsche Bank reiterated a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup reiterated a “buy” rating and set a $190.00 target price (up from $187.00) on shares of Costco Wholesale in a research note on Monday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $190.00 target price (up from $184.00) on shares of Costco Wholesale in a research note on Friday, October 6th. Finally, Jefferies Group reiterated a “hold” rating and set a $162.00 target price (down from $168.00) on shares of Costco Wholesale in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $181.91.
In other Costco Wholesale news, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $170.95, for a total value of $512,850.00. Following the sale, the chief financial officer now directly owns 35,225 shares of the company’s stock, valued at $6,021,713.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the completion of the sale, the director now directly owns 6,974 shares in the company, valued at $1,150,152.08. The disclosure for this sale can be found here. Insiders sold 32,842 shares of company stock worth $5,520,848 over the last ninety days. 0.74% of the stock is owned by corporate insiders.
Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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