Costco Wholesale Corp. shares could swing about 3% in either direction by the end of the week following the release of its quarterly earnings report on Thursday afternoon, options market data shows.
A potential price movement from Tuesday’s close could drag the stock down to $873, virtually erasing its gains for the year, or push it up to $925.
Shares of the retail chain are currently up less than 5% year-to-date after a significant pullback from their May record. The wholesaler is projected to report record fiscal fourth-quarter revenue of $94.85 billion (up 10% year-over-year) and earnings per share of $6.52, compared to $5.87 a year ago.
Wall Street analysts remain optimistic: the mean price target for COST stock stands at $1,048, suggesting a potential upside of 16% from current levels.