Starbucks Corp. (SBUX) Updates FY14 Earnings Guidance
Starbucks Corp. (NASDAQ:SBUX) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $2.59-2.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.65, American Banking & Market News reports. Starbucks Corp. also updated its Q2 guidance to $0.54-0.55 EPS.
A number of research firms have recently commented on SBUX. Analysts at Goldman Sachs Group Inc. downgraded shares of Starbucks Corp. from a conviction-buy rating to a buy rating in a research note to investors on Tuesday. On a related note, analysts at Belus Capital downgraded shares of Starbucks Corp. to a hold rating in a research note to investors on Tuesday, January 14th. Finally, 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. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $80.56.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.29% during mid-day trading on Thursday, hitting $73.39. The stock had a trading volume of 14,694,253 shares. 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 $77.17 and its 200-day moving average is $75.79. The company has a market cap of $55.307 billion and a price-to-earnings ratio of 7360.00.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, January 23rd. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.02. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Starbucks Corp. will post $2.65 EPS for the current fiscal year.
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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