Starbucks Corp. Rating Reiterated by Zacks (SBUX)
Starbucks Corp. (NASDAQ:SBUX)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday, Analyst Ratings Network.com reports. They currently have a $79.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 5.36% from the stock’s previous close.
Zacks‘ analyst wrote, “Starbucks delivered mixed first-quarter fiscal 2014 results, beating the Zacks Consensus Estimate for earnings but missing the same for revenues as U.S. sales slowed. However, Starbucks raised earnings expectations for 2014 while maintaining the top-line guidance. Overall, we are encouraged by Starbucks’ strong global retail footprint, successful food/beverage innovations, rapid growth in international markets and solid turnaround in the U.S. We believe that the company has compelling growth drivers like La Boulange, Evolution Fresh, Teavana, K-Cups, loyalty program and food innovations to sustain the earnings momentum. However, macro challenges in Europe and the recent slowdown of the CPG business keeps us on the sidelines. “
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their EPS estimates on shares of Starbucks Corp. in a research note on Friday. They now have a “neutral” rating and a $80.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Starbucks Corp. in a research note to investors on Friday. They now have a $94.00 price target on the stock. Finally, 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, January 21st. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $81.69.
Starbucks Corp. (NASDAQ:SBUX) traded down 1.09% during mid-day trading on Monday, hitting $74.16. The stock had a trading volume of 3,626,488 shares. Starbucks Corp. has a 52-week low of $52.52 and a 52-week high of $82.50. The stock has a 50-day moving average of $76.84 and a 200-day moving average of $75.8. The company has a market cap of $55.887 billion and a price-to-earnings ratio of 7498.00.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data 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.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 21st. Stockholders of record on Thursday, February 6th will be paid a dividend of 0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, February 4th.
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.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.