BUZZ-PREVIEW: Costco shares fall ahead of earnings report

Reuters
03-07
BUZZ-PREVIEW: Costco shares fall ahead of earnings report

** Costco COST.O shares falling 1.5% on Thurs ahead of fiscal Q2 results after the bell, as investors focus on the co's ability to maintain sales growth amid economic uncertainty

** Analysts expect qtrly rev up 8% to $63.13 bln, with adjusted EPS seen at $4.11 vs $3.92 yr-ago, per LSEG, driven by bulk and discounted offerings appealing to budget-conscious shoppers

** COST stock has climbed about 14% YTD, outperforming Nasdaq .IXIC, which fell ~6% in the same period

** Stock recently traded at ~54 times expected earnings, higher than its avg forward PE of 38 over past five years, per LSEG data

(Reporting by Noel Randewich)

((noel.randewich@tr.com;))

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