COST is on track for its seventh daily lost in the last eight sessions
Costco Wholesale Corp (NASDAQ:COST) is set to announce its fiscal third-quarter earnings report after the close tomorrow, Thursday, May 25. COST is down 0.5% at $482.25 ahead of the event, and on track for its seventh day of losses in the last eight.
Historically speaking, Costco stock's post-earnings results have been a mixed bag over the past couple years, with four next-day sessions finishing positive while the other half closed negative. This time around, the options market is pricing in a swing of 4.2%, which is bigger than the 2.7% post-earnings moved the stock has averaged over the past eight reports.
Year-to-date, COST is still holding on to a 5.6% lead, though the stock has recently dipped below all notable short- and long-term moving averages. Notably, the equity's 320-day moving average has been a holding a strict line of pressure at the $505 level.
The majority of analysts are bullish toward Costco stock, with 20 of the 26 in coverage carrying a "buy" or better rating. Plus, the 12-month consensus price target of $548.09 sits at a 13.7% premium to current levels.
