Starbucks Corporation (SBUX) Expected to Post Earnings of $0.55 Per Share
Equities analysts predict that Starbucks Corporation (NASDAQ:SBUX) will report earnings per share of $0.55 for the current quarter, according to Zacks. Nine analysts have made estimates for Starbucks Corporation’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.54. Starbucks Corporation posted earnings of $0.56 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The business is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Starbucks Corporation will report full-year earnings of $2.06 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.07. For the next fiscal year, analysts anticipate that the company will post earnings of $2.35 per share, with EPS estimates ranging from $2.28 to $2.42. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Starbucks Corporation.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share.
SBUX has been the subject of several analyst reports. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets lowered Starbucks Corporation from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $54.52 to $64.00 in a research note on Wednesday, August 9th. Stifel Nicolaus assumed coverage on shares of Starbucks Corporation in a research report on Tuesday. They set a “hold” rating and a $58.00 target price on the stock. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Thirteen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $64.33.
In other news, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. CGOV Asset Management raised its stake in shares of Starbucks Corporation by 5.1% during the 1st quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock worth $88,920,000 after buying an additional 55,405 shares during the period. Waldron LP lifted its holdings in Starbucks Corporation by 44.8% in the 1st quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock valued at $1,057,000 after purchasing an additional 5,604 shares in the last quarter. IFP Advisors Inc lifted its holdings in Starbucks Corporation by 1.0% in the 1st quarter. IFP Advisors Inc now owns 92,841 shares of the coffee company’s stock valued at $5,421,000 after purchasing an additional 883 shares in the last quarter. TMD & Associates Inc. lifted its holdings in Starbucks Corporation by 8.9% in the 1st quarter. TMD & Associates Inc. now owns 8,547 shares of the coffee company’s stock valued at $499,000 after purchasing an additional 702 shares in the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. lifted its holdings in Starbucks Corporation by 10.8% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 50,883 shares of the coffee company’s stock valued at $2,971,000 after purchasing an additional 4,968 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.
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Shares of Starbucks Corporation (SBUX) traded up 0.33% during midday trading on Tuesday, hitting $53.99. 6,137,069 shares of the stock traded hands. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The firm’s 50-day moving average is $54.21 and its 200 day moving average is $57.82. The company has a market capitalization of $77.96 billion, a price-to-earnings ratio of 27.25 and a beta of 0.78.
Starbucks Corporation Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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