Starbucks Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:SBUX)
Shares of Starbucks (NASDAQ:SBUX) have been given an average recommendation of “Buy” by the twenty-four ratings firms that are presently covering the company, AnalystRatings.Net reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $88.67.
SBUX has been the subject of a number of recent research reports. 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.
Shares of Starbucks (NASDAQ:SBUX) opened at 77.81 on Thursday. Starbucks has a one year low of $67.93 and a one year high of $82.50. The stock has a 50-day moving average of $77.92 and a 200-day moving average of $74.54. The company has a market cap of $58.451 billion and a P/E ratio of 239.42. Starbucks also saw a large drop in short interest during 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 daily volume of 3,330,428 shares, the short-interest ratio is presently 2.3 days. Currently, 1.0% of the company’s shares are sold short.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts predict that Starbucks will post $2.68 earnings per share 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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