Starbucks (NASDAQ:SBUX) Issues FY19 Earnings Guidance

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Starbucks (NASDAQ:SBUX) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.80-2.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.83. Starbucks also updated its FY20 guidance to below 10% EPS.

SBUX opened at $95.56 on Friday. The business’s 50-day simple moving average is $95.35 and its 200-day simple moving average is $82.00. The company has a market cap of $115.04 billion, a P/E ratio of 39.49, a PEG ratio of 2.62 and a beta of 0.56. Starbucks has a one year low of $53.65 and a one year high of $99.72.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Analysts forecast that Starbucks will post 2.83 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.

A number of equities research analysts have recently commented on SBUX shares. KeyCorp lifted their price objective on Starbucks from $84.00 to $105.00 and gave the company an overweight rating in a research report on Friday, July 26th. Stephens lifted their target price on Starbucks from $72.00 to $90.00 and gave the company an equal weight rating in a report on Friday, July 26th. Wedbush lifted their target price on Starbucks from $88.00 to $95.00 and gave the company a neutral rating in a report on Friday, July 26th. Credit Suisse Group assumed coverage on Starbucks in a report on Tuesday, June 25th. They issued an outperform rating and a $92.00 target price on the stock. Finally, Barclays lifted their target price on Starbucks from $75.00 to $90.00 and gave the company an equal weight rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $89.53.

In other news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $96.42, for a total value of $961,596.66. The disclosure for this sale can be found here. Insiders sold 129,639 shares of company stock valued at $12,303,635 over the last 90 days. Company insiders own 3.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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