Why Costco Wholesale Corporation Stock Fell Today
Shares of Costco Wholesale (NASDAQ: COST) were down 5.9% as of 12:07 p.m. EDT Friday despite stronger-than-expected quarterly results from the membership-based warehouse retailer.
For its 17-week fiscal fourth quarter ended Sept. 3, 2017, Costco's total revenue climbed 15.7% year over year to $42.3 billion, helped by a 5.7% increase in comparable sales (excluding impacts from foreign exchange and changes in gas prices), a 13% increase in member-fee sales to $943 million, and an extra week in the quarter as compared to the same year-ago period. On the bottom line, that translated to net income of $919 million, or $2.08 per share, up from $779 million, or $1.77 per share in the same year-ago period, with growth driven largely by those higher membership fees.
By comparison, Wall Street had predicted lower earnings of $2.02 per share on revenue of $41.55 billion.
Source: Fool.com
Costco Wholesale Stock
The stock is an absolute favorite of our community with 69 Buy predictions and no Sell predictions.
As a result the target price of 804 € shows a slightly positive potential of 6.66% compared to the current price of 753.8 € for Costco Wholesale.
