Starbucks Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:SBUX)
Shares of Starbucks (NASDAQ:SBUX) have been given a consensus recommendation of “Buy” by the twenty-four brokerages that are currently covering the stock, Analyst Ratings Network.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $88.67.
Shares of Starbucks (NASDAQ:SBUX) traded down 0.31% during mid-day trading on Thursday, hitting $77.68. The stock had a trading volume of 243,367 shares. Starbucks has a 52 week low of $67.93 and a 52 week high of $82.50. The stock has a 50-day moving average of $78.0 and a 200-day moving average of $74.50. The company has a market cap of $58.353 billion and a P/E ratio of 239.75. Starbucks also was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 7,556,135 shares, a drop of 20.0% from the July 31st total of 9,447,419 shares. Based on an average trading volume of 3,330,428 shares, the short-interest ratio is presently 2.3 days. Currently, 1.0% of the company’s stock are sold short.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.01. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts expect that Starbucks will post $2.68 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Starbucks in a research note on Monday, August 4th. They now have a $91.00 price target on the stock, up previously from $84.00. Separately, analysts at Williams Capital raised their price target on shares of Starbucks from $94.00 to $98.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks in a research note on Monday, July 28th. They now have a $83.00 price target on the stock.
In other Starbucks news, Insider John Culver sold 25,000 shares of Starbucks stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $76.72, for a total transaction of $1,918,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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