$0.55 Earnings Per Share Expected for Starbucks Corporation (SBUX) This Quarter
Wall Street brokerages forecast that Starbucks Corporation (NASDAQ:SBUX) will report earnings of $0.55 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Starbucks Corporation’s earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.54. Starbucks Corporation reported earnings of $0.56 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.8%. The firm is scheduled to announce its next quarterly earnings report after the market closes 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 year, analysts anticipate that the company will report earnings of $2.34 per share, with EPS estimates ranging from $2.30 to $2.37. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Starbucks Corporation.
Starbucks Corporation (NASDAQ:SBUX) last released 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. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis.
Several research analysts recently commented on SBUX shares. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Mizuho reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Starbucks Corporation in a report on Friday, September 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Tuesday, July 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $52.00 price objective (down from $58.00) on shares of Starbucks Corporation in a report on Friday, September 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $64.24.
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Starbucks Corporation (NASDAQ:SBUX) traded down 1.50% during midday trading on Friday, hitting $54.57. 11,741,092 shares of the stock were exchanged. The firm has a market capitalization of $78.79 billion, a P/E ratio of 27.70 and a beta of 0.78. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The firm’s 50-day moving average price is $54.69 and its 200 day moving average price is $57.61.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were 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 of the company’s stock, valued at approximately $20,898,857.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC grew its holdings in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the last quarter. Gradient Investments LLC grew its holdings in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after acquiring an additional 46 shares during the last quarter. Sharkey Howes & Javer grew its holdings in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after acquiring an additional 150 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in Starbucks Corporation in the 1st quarter worth $122,000. 70.77% of the stock is currently owned by institutional investors and hedge funds.
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.
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