Costco Wholesale (COST, $497.39) Corp earnings forecast on March 2

Costco Wholesale Corp (COST) is scheduled to release its quarterly earnings report on Thursday, March 2, 2023. 

The company operates over 800 stores worldwide and has a loyal customer base that values its high-quality products and excellent customer service.

On February 15, 2023, the Stochastic Oscillator for COST moved out of oversold territory, which could be a bullish sign for the stock. The Stochastic Oscillator is a momentum indicator that measures the level of buying and selling pressure in the market. When the indicator moves out of oversold territory, it suggests that the stock may be due for a rebound.

The Stochastic Oscillator departing the oversold zone has happened 45 times in the past for COST, according to Tickeron's A.I.dvisor. In 30 of these cases, the stock increased in the days that followed. This increases the likelihood of a move up to above 67%, pointing to a promising future for the stock.

In terms of its financial performance, Costco has been a strong performer in recent quarters, driven by its robust membership model and strong sales growth. In its last reported quarter, the company reported revenue of $54.4 billion, up 15.9% year-over-year, and net income of $1.7 billion, up 33.3% year-over-year.

Analysts expect Costco to report earnings per share of $3.22 in the upcoming quarter, up from $2.73 in the same quarter last year. Revenue is expected to come in at $52.9 billion, representing a year-over-year increase of 10.1%. These estimates suggest that Costco's growth momentum is expected to continue, albeit at a slightly slower pace.

In conclusion, the Stochastic Oscillator signal for COST rising out of oversold area may be a hint that the stock is poised for a short-term rebound.