Q1 2023 EPS Estimates for Starbucks Co. Reduced by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUXGet Rating) – Jefferies Financial Group lowered their Q1 2023 EPS estimates for Starbucks in a note issued to investors on Wednesday, September 14th. Jefferies Financial Group analyst A. Barish now anticipates that the coffee company will post earnings per share of $0.64 for the quarter, down from their prior forecast of $0.73. The consensus estimate for Starbucks’ current full-year earnings is $2.88 per share. Jefferies Financial Group also issued estimates for Starbucks’ Q2 2023 earnings at $0.73 EPS, Q3 2023 earnings at $0.89 EPS, Q4 2023 earnings at $1.01 EPS, FY2023 earnings at $3.27 EPS and FY2024 earnings at $3.91 EPS.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the prior year, the business posted $1.01 EPS.

A number of other equities analysts have also issued reports on SBUX. Cowen upped their target price on Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Piper Sandler raised their price objective on shares of Starbucks from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. Morgan Stanley upped their target price on shares of Starbucks from $88.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird lifted their price target on Starbucks from $86.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Sanford C. Bernstein assumed coverage on Starbucks in a research note on Wednesday, September 7th. They set a “market perform” rating and a $94.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.43.

Starbucks Stock Performance

Shares of SBUX opened at $92.22 on Thursday. Starbucks has a one year low of $68.39 and a one year high of $117.80. The stock has a 50-day moving average price of $84.63 and a 200 day moving average price of $81.49. The company has a market capitalization of $105.81 billion, a P/E ratio of 25.98, a P/E/G ratio of 2.74 and a beta of 0.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SBUX. Guardian Wealth Management Inc. bought a new position in shares of Starbucks during the 4th quarter valued at about $25,000. Bromfield Sneider Wealth Advisors bought a new stake in Starbucks during the first quarter worth approximately $25,000. Burleson & Company LLC grew its position in Starbucks by 2,660.0% in the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter valued at $25,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $28,000. 67.97% of the stock is currently owned by institutional investors.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a $0.49 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.13%. Starbucks’s dividend payout ratio is presently 55.21%.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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