Starbucks Co. Forecasted to Earn FY2018 Earnings of $2.44 Per Share (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Investment analysts at Oppenheimer boosted their FY2018 earnings per share estimates for shares of Starbucks in a research note issued on Thursday, Zacks Investment Research reports. Oppenheimer analyst B. Bittner now expects that the coffee company will post earnings of $2.44 per share for the year, up from their previous forecast of $2.31.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS.

Several other research analysts also recently commented on SBUX. Stephens reaffirmed an “equal weight” rating and issued a $52.00 price target (down from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and issued a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. Stifel Nicolaus initiated coverage on Starbucks in a research report on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $62.00 price target on shares of Starbucks in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.23.

Shares of Starbucks (NASDAQ:SBUX) traded up $0.40 during midday trading on Monday, reaching $60.40. The company’s stock had a trading volume of 6,980,995 shares, compared to its average volume of 6,615,367. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a market cap of $85,940.00, a P/E ratio of 30.66, a P/E/G ratio of 1.64 and a beta of 0.76. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87.

Institutional investors have recently bought and sold shares of the business. Stonehearth Capital Management LLC bought a new stake in Starbucks in the fourth quarter valued at about $142,000. KCS Wealth Advisory bought a new stake in shares of Starbucks in the fourth quarter worth about $237,000. Trellis Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth about $1,734,000. Nisa Investment Advisors LLC boosted its position in shares of Starbucks by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 494,295 shares of the coffee company’s stock worth $28,387,000 after buying an additional 27,807 shares during the period. Finally, Stillwater Capital Advisors LLC boosted its position in shares of Starbucks by 0.7% during the fourth quarter. Stillwater Capital Advisors LLC now owns 178,831 shares of the coffee company’s stock worth $10,271,000 after buying an additional 1,182 shares during the period. 70.72% of the stock is currently owned by institutional investors.

In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.

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About Starbucks

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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