Costco Beats Wall Street Estimates: Here's Why You Shouldn't Buy the Stock
Once again, Costco (NASDAQ: COST) gave its shareholders reason to be optimistic. The massive warehouse store operator just reported revenue of $58.5 billion (up 9% year over year) and diluted earnings per share of $3.78 (up 29%) that easily beat Wall Street consensus analyst estimates. The business continue to hum along.
But even though this is a top retail stock that has crushed it for investors historically, I think it's best to keep it on your watch list for now. Here's why you should avoid adding Costco to your portfolio at the moment.
If anyone takes even a quick look at Costco, I'm sure they'd come away extremely impressed. The fact that the company beat analysts' estimates is just another example of its strong fundamental performance, something that investors have grown accustomed to regardless of the macro picture.
Source Fool.com
