Starbucks Corporation (SBUX) Expected to Announce Quarterly Sales of $5.79 Billion
Analysts expect Starbucks Corporation (NASDAQ:SBUX) to report $5.79 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Starbucks Corporation’s earnings, with estimates ranging from $5.59 billion to $6.13 billion. Starbucks Corporation posted sales of $5.71 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The business is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Starbucks Corporation will report full year sales of $5.79 billion for the current year, with estimates ranging from $22.28 billion to $22.82 billion. For the next year, analysts anticipate that the company will post sales of $24.71 billion per share, with estimates ranging from $24.19 billion to $25.30 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Starbucks Corporation.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share.
A number of research analysts recently issued reports on SBUX shares. Cowen and Company restated a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. Finally, Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.34.
Shares of Starbucks Corporation (SBUX) opened at 53.93 on Thursday. The stock has a market cap of $77.87 billion, a P/E ratio of 27.22 and a beta of 0.78. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The company has a 50 day moving average of $54.26 and a 200 day moving average of $57.77.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Appropriate Balance Financial Services Inc. grew its holdings in shares of Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares in the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/05/starbucks-corporation-sbux-expected-to-announce-quarterly-sales-of-5-79-billion.html.
About Starbucks Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.