What's Going On With Costco Stock Thursday?

Costco Wholesale Corporation -0.15%

Costco Wholesale Corporation

COST

838.13

-0.15%

Costco Wholesale Corporation (NASDAQ:COST) shares are rising Thursday ahead of the company’s earnings release due after the bell. Here’s what you need to know before Costco reports third-quarter results.

What To Know: Costco will report financial results for the third quarter of fiscal 2024 after the market close. Analysts expect Costco’s adjusted EPS to come in at $3.70 and revenue to reach $58.06 billion, per data from Benzinga Pro.

Last quarter, Costco beat analyst estimates for adjusted EPS, but fell short of analyst estimates for revenue. The company reported adjusted EPS of $3.71, beating analyst estimates of $3.62. Revenue came in at $58.44 billion, missing analyst estimates of $59.15 billion.

In a recent note from Stifel, analyst Mark Astrachan predicted that a consumer spending shift could work in Costco’s favor, citing a survey showing that consumers earning less than $100,000 per year plan to shop more at retailers like Costco and Walmart. The analyst has a Buy rating on the stock.

Don’t Miss: Costco Q3 Earnings Preview: Analyst Estimates, Foot Traffic Data, Membership Fee Increase Eyed By Investors

How To Buy Costco Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Costco's case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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COST Price Action: At the time of publication, Costco stock is up 1.45% at $818.15, according to data from Benzinga Pro.

Image via Shutterstock.

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