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Thursday, January 21, 2021

COST Seems to Be Facing Some Technical Difficulties as They Are Just About Meet Earnings

The stocks of COST have been heading up a slate for light earnings for the current week- as they move up to report the fiscal for the first quarter. Most of the analysts have been looking at the retail giant- expecting it to get a profit of around $1.93 per share on revenue of $42.25 billion. If the company is able to hit that mark, then the EPS will definitely increase by over 12% as compared to the 2019 quarter. The stocks did manage to gain less than a percent after they were able to beat the estimates of the fourth quarter while posting an all-time high of $393.15.

How Did the Pandemic Help the Stocks of COST?

Impressively, the company has the 41st highest capitalized component of the S&P 500 even after it has spent around 10 years accruing an impressive growth every year. The pandemic might have helped the stocks of COST increase the market share for the first quarter. They were able to do so because most of their rivals were forced to do away with their operations because they couldn’t manage it. The shock which was delivered to the system still has continued to underpin the healthy profits that have been accumulated. And it has also managed to support the impressive year-to-date return of about 27%. 

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Currently, most of the players in the market have been giving away the beneficiaries of COVID-19 ever since Pfizer and now Moderna reported the results of their coronavirus vaccine. But since that exercise might soon run its course, COST needs to look towards more uncharted highs. 

Also, Target, the major rival of COST has managed to secure major gains for itself. This simply proves that there is definitely a threshold for profit that is irresistible for investors. 

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