Zacks: Analysts Expect Starbucks Corporation (SBUX) Will Announce Earnings of $0.55 Per Share
Wall Street analysts expect that Starbucks Corporation (NASDAQ:SBUX) will announce earnings per share of $0.55 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Starbucks Corporation’s earnings, with the highest EPS estimate coming in at $0.59 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 expected to issue its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Starbucks Corporation will report full year earnings of $2.06 per share for the current fiscal year, with EPS estimates ranging from $2.05 to $2.07. For the next financial year, analysts forecast that the business will report earnings of $2.35 per share, with EPS estimates ranging from $2.28 to $2.42. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for 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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS.
Several equities research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Wednesday. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price for the company in a research report on Thursday, June 8th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Cleveland Research downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $64.64.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.78% during mid-day trading on Friday, hitting $54.36. 8,601,120 shares of the stock were exchanged. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The stock has a market cap of $78.49 billion, a PE ratio of 27.59 and a beta of 0.80. The stock’s 50 day moving average is $55.81 and its 200-day moving average is $58.10.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Appropriate Balance Financial Services Inc. boosted its stake in shares of Starbucks Corporation by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after buying an additional 13 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC boosted its stake in Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer boosted its stake in Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its stake in Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares in the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.
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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