Starbucks (NASDAQ:SBUX) Updates Q4 Earnings Guidance

Starbucks (NASDAQ:SBUX) issued an update on its fourth quarter earnings guidance on Tuesday. 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 FY24 guidance to $3.31 EPS.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Thursday, September 12th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $102.40.

Starbucks Stock Up 0.4 %

SBUX stock traded up $0.37 during trading on Tuesday, reaching $96.82. 4,486,223 shares of the company’s stock were exchanged, compared to its average volume of 11,334,562. The firm has a market cap of $109.67 billion, a PE ratio of 26.74, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66. The company’s fifty day moving average price is $95.29 and its 200-day moving average price is $84.73.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. Starbucks’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was 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 currently owned by 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.