Starbucks Corp. Coverage Initiated by Analysts at Longbow Research (SBUX)
Investment analysts at Longbow Research assumed coverage on shares of Starbucks Corp. (NASDAQ:SBUX) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
SBUX has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Starbucks Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Starbucks Corp. in a research note to investors on Monday, January 27th. They now have a $89.00 price target on the stock, down previously from $93.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks Corp. in a research note to investors on Monday, January 27th. They now have a $79.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $82.96.
Starbucks Corp. (NASDAQ:SBUX) traded up 2.31% during mid-day trading on Friday, hitting $74.035. 7,376,385 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 has a 50-day moving average of $75.19 and a 200-day moving average of $76.04. The company has a market cap of $55.963 billion and a price-to-earnings ratio of 469.87.
Starbucks Corp. (NASDAQ:SBUX) last released its 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 $2.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 21st. Investors of record on Thursday, February 6th will be given a dividend of 0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend 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.
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