Starbucks (NASDAQ:SBUX) Releases Q4 2024 Earnings Guidance

Starbucks (NASDAQ:SBUX) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.800-0.800 for the period, compared to the consensus estimate of 1.030. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $9.4 billion. Starbucks also updated its FY 2024 guidance to 3.310-3.310 EPS.

Analysts Set New Price Targets

Several research firms recently issued reports on SBUX. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Barclays boosted their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.40.

Starbucks Price Performance

Shares of SBUX traded up $0.37 during trading hours on Tuesday, hitting $96.82. 6,608,393 shares of the stock were exchanged, compared to its average volume of 11,344,309. The firm has a market capitalization of $109.67 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The business has a 50-day moving average of $95.29 and a 200-day moving average of $84.73.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Starbucks will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.52%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.