Starbucks (SBUX) Set to Announce Earnings on Wednesday

Starbucks (NASDAQ:SBUX) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Starbucks to post earnings of $1.04 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, analysts expect Starbucks to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Starbucks Stock Up 0.2 %

Starbucks stock opened at $97.31 on Monday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The firm’s 50-day simple moving average is $95.48 and its 200 day simple moving average is $85.03. The firm has a market capitalization of $110.22 billion, a PE ratio of 26.81, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is currently 67.22%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Citigroup reduced their target price on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Two equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.