Starbucks (SBUX) Set to Announce Quarterly Earnings on Wednesday

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

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts expect Starbucks to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Starbucks Trading Up 0.7 %

Shares of Starbucks stock opened at $98.02 on Tuesday. The company’s 50-day moving average price is $95.59 and its 200-day moving average price is $85.11. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market cap of $111.08 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 63.87%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Citigroup dropped their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. DZ Bank cut 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. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, October 23rd. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 directly owns 75,054 shares in the company, valued at $7,057,327.62. This 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 currently owned by 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.