Starbucks (NASDAQ:SBUX) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Starbucks (NASDAQ:SBUX) issued its quarterly earnings data on Tuesday. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.13), Briefing.com reports. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.

Starbucks Trading Up 0.2 %

Shares of Starbucks stock opened at $88.49 on Wednesday. The company has a fifty day moving average price of $90.17 and a 200 day moving average price of $94.25. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a market cap of $100.19 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wedbush cut their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Morgan Stanley cut their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. BTIG Research lowered their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, TD Cowen reaffirmed a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.23.

About Starbucks

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