Starbucks (SBUX) Updates FY 2019 Earnings Guidance

Starbucks (NASDAQ:SBUX) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $2.61-2.66 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.64. The company issued revenue guidance of $25.955-26.45 billion, compared to the consensus revenue estimate of $26.18 billion.Starbucks also updated its FY19 guidance to $2.61-2.66 EPS.

A number of research firms have commented on SBUX. BMO Capital Markets set a $51.00 price target on shares of Starbucks and gave the stock a hold rating in a research report on Monday, July 23rd. Barclays dropped their price target on shares of Starbucks from $60.00 to $57.00 and set a $51.15 rating on the stock in a research report on Wednesday, July 18th. Telsey Advisory Group dropped their price target on shares of Starbucks from $60.00 to $58.00 and set a market perform rating on the stock in a research report on Tuesday, July 17th. ValuEngine upgraded shares of Starbucks from a hold rating to a buy rating in a research report on Friday, October 26th. Finally, Piper Jaffray Companies boosted their price target on shares of Starbucks from $53.00 to $60.00 and gave the stock a neutral rating in a research report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $62.44.

Shares of SBUX traded up $5.69 during mid-day trading on Friday, hitting $64.32. The company’s stock had a trading volume of 45,466,436 shares, compared to its average volume of 13,111,073. The stock has a market capitalization of $86.77 billion, a P/E ratio of 26.58, a P/E/G ratio of 1.75 and a beta of 0.48. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.01 and a quick ratio of 0.76. Starbucks has a fifty-two week low of $47.37 and a fifty-two week high of $65.68.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

In other news, insider Rosalind G. Brewer bought 5,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were acquired at an average cost of $54.04 per share, with a total value of $270,200.00. Following the completion of the transaction, the insider now directly owns 7,302 shares in the company, valued at approximately $394,600.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the transaction, the director now directly owns 29,000 shares in the company, valued at $1,596,450. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,832 shares of company stock worth $15,052,087. 3.40% of the stock is currently owned by insiders.

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 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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