Is Costco Stock Too Expensive?
Costco Wholesale (NASDAQ: COST) recently reported its fiscal 2023 first-quarter (ended Nov. 20) financial results, posting net sales of $53.4 billion, good for an 8.1% year-over-year increase. Earnings per share of $3.07 also showed a slight uptick from the same period last year.
Despite these relatively positive results, Costco missed Wall Street analyst estimates. And the stock is down more than 14% in 2022.
But with a current price-to-earnings (P/E) ratio of 37, are Costco shares currently overvalued? Let's take a closer look at the business and its prospects to find the answer.
Source Fool.com
