Starbucks Corp. Stock Rating Lowered by Goldman Sachs Group Inc. (SBUX)
Starbucks Corp. (NASDAQ:SBUX) was downgraded by Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 1.67% during mid-day trading on Tuesday, hitting $73.65. 9,388,636 shares of the company’s stock traded hands. Starbucks Corp. has a 52-week low of $52.52 and a 52-week high of $82.50. The stock’s 50-day moving average is $77.38 and its 200-day moving average is $75.81. The company has a market cap of $55.503 billion and a price-to-earnings ratio of 7490.00.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Starbucks Corp. will post $2.65 earnings per share for the current fiscal year.
SBUX has been the subject of a number of other recent research reports. Analysts at Belus Capital downgraded shares of Starbucks Corp. to a “hold” rating in a research note to investors on Tuesday, January 14th. Separately, analysts at UBS AG initiated coverage on shares of Starbucks Corp. in a research note to investors on Wednesday, January 8th. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Credit Suisse initiated coverage on shares of Starbucks Corp. in a research note to investors on Tuesday, January 7th. They set an “outperform” rating and a $96.00 price target on the stock. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.56.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.
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