Starbucks (SBUX) Releases FY19 Earnings Guidance

Starbucks (NASDAQ:SBUX) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.61-2.66 for the period, compared to the Thomson Reuters consensus estimate of $2.63. The company issued revenue guidance of $26-26.45 billion, compared to the consensus revenue estimate of $26.16 billion.Starbucks also updated its FY 2019 guidance to $2.61-2.66 EPS.

Starbucks stock traded up $5.69 during trading hours on Friday, reaching $64.32. 45,466,436 shares of the company’s stock were exchanged, compared to its average volume of 13,111,073. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. Starbucks has a twelve month low of $47.37 and a twelve month high of $65.68. The company has a market cap of $86.77 billion, a P/E ratio of 26.58, a PEG ratio of 1.75 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 70.00% and a net margin of 18.28%. The firm had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Starbucks will post 2.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.24%. Starbucks’s payout ratio is currently 59.50%.

A number of analysts have weighed in on SBUX shares. Wedbush decreased their price target on Starbucks from $54.00 to $53.00 and set a neutral rating for the company in a report on Friday, July 27th. BidaskClub upgraded Starbucks from a hold rating to a buy rating in a research note on Wednesday, September 12th. Bank of America raised their target price on Starbucks from $57.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, October 10th. Zacks Investment Research downgraded Starbucks from a hold rating to a sell rating in a research note on Friday, September 28th. Finally, ValuEngine upgraded Starbucks from a hold rating to a buy rating in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the stock. Starbucks has a consensus rating of Buy and a consensus target price of $62.44.

In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $52.70, for a total transaction of $8,783,298.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The disclosure for this sale can be found here. Insiders have sold a total of 280,832 shares of company stock valued at $15,052,087 in the last quarter. Company insiders own 3.40% of the company’s stock.

Starbucks Company Profile

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 coffee and tea products, 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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