Starbucks (NASDAQ:SBUX – Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.80 for the period, compared to the consensus estimate of $1.03. The company issued revenue guidance of $9.1 billion, compared to the consensus revenue estimate of $9.37 billion. Starbucks also updated its FY 2024 guidance to 3.310-3.310 EPS.
Starbucks Stock Performance
SBUX opened at $97.15 on Friday. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $110.09 billion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. The business’s 50-day simple moving average is $95.38 and its 200 day simple moving average is $84.89.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Starbucks will post 3.55 earnings per share for the current year.
Starbucks Increases Dividend
Analyst Ratings Changes
SBUX has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $102.48.
View Our Latest Analysis on SBUX
Insider Buying and Selling at Starbucks
In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents 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. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents 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 value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.
About Starbucks
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.
Further Reading
- Five stocks we like better than Starbucks
- ESG Stocks, What Investors Should Know
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- How to Use the MarketBeat Dividend Calculator
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
- How to invest in marijuana stocks in 7 steps
- The Downtrend in UPS Stock Isn’t Over Yet
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.