Starbucks (NASDAQ:SBUX – Get Free Report) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.800-0.800 for the period, compared to the consensus earnings per share 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.
Starbucks Price Performance
Shares of SBUX traded up $0.08 during midday trading on Friday, reaching $97.23. The stock had a trading volume of 1,081,115 shares, compared to its average volume of 11,324,655. The company’s fifty day simple moving average is $95.38 and its two-hundred day simple moving average is $84.89. The company has a market cap of $110.18 billion, a price-to-earnings ratio of 27.21, a PEG 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.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks will post 3.55 earnings per share for the current year.
Starbucks Increases Dividend
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus dropped their price objective on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.48.
Get Our Latest Stock Report on Starbucks
Insider Buying and Selling
In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.
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.
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