Costco Stock Pulls Back from Record Before Earnings

Costco Wholesale Corp (NASDAQ:COST) is set to report fiscal third-quarter earnings after the close on Wednesday, May 28. According to Zacks Research, analysts expect earnings of $4.91 per share on revenue of $69.50 billion, representing year-over-year growth of 14.7% and 9.7%, respectively.

The options pits are pricing in a post-earnings swing of 4.4% on Thursday, more than double the stock's historical earnings move of 2% over the last eight quarters. COST has closed only three of its last eight earnings sessions higher, including a 1.6% rise this past March. 

On the charts, Costco recently staged a sharp pullback from a May 19 record high of $1,096.50, though the shares continue to find support at their 80-day moving average. Year to date, COST is up 16.8%.