Q3 2024 EPS Estimates for Starbucks Co. Boosted by Analyst (NASDAQ:SBUX)

Starbucks Co. (NASDAQ:SBUX) – Research analysts at Wedbush lifted their Q3 2024 earnings per share (EPS) estimates for Starbucks in a note issued to investors on Monday, November 6th. Wedbush analyst N. Setyan now expects that the coffee company will post earnings per share of $1.09 for the quarter, up from their prior forecast of $1.05. Wedbush currently has a “Neutral” rating and a $106.00 target price on the stock. The consensus estimate for Starbucks’ current full-year earnings is $4.14 per share. Wedbush also issued estimates for Starbucks’ Q4 2024 earnings at $1.15 EPS.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 48.79% and a net margin of 11.47%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share.

Other equities research analysts also recently issued reports about the company. Citigroup lowered their target price on Starbucks from $104.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, October 5th. Stephens reiterated an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, August 2nd. Bank of America raised their price objective on Starbucks from $131.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Stifel Nicolaus reduced their price objective on Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Finally, William Blair reissued an “outperform” rating on shares of Starbucks in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.52.

Starbucks Stock Performance

Shares of SBUX stock opened at $104.30 on Wednesday. The company has a market cap of $119.47 billion, a P/E ratio of 31.80, a PEG ratio of 1.53 and a beta of 0.98. The stock has a 50 day simple moving average of $94.76 and a two-hundred day simple moving average of $99.13. Starbucks has a fifty-two week low of $89.21 and a fifty-two week high of $115.48.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a dividend of $0.57 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, November 9th. Starbucks’s dividend payout ratio (DPR) is 64.63%.

Institutional Trading of Starbucks

A number of hedge funds have recently bought and sold shares of SBUX. BCK Partners Inc. bought a new stake in shares of Starbucks in the first quarter valued at $2,640,000. American Century Companies Inc. raised its stake in shares of Starbucks by 7.3% in the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after buying an additional 1,872 shares during the period. Roundview Capital LLC raised its stake in shares of Starbucks by 37.5% in the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after buying an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Starbucks in the first quarter valued at $198,000. Finally, Mather Group LLC. raised its stake in shares of Starbucks by 77.5% in the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after buying an additional 3,017 shares during the period. 70.13% of the stock is currently owned by institutional investors.

Starbucks Company Profile

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.