That’s even though customer traffic was flat in the period from a year ago in the U.S. The average estimate of 15 analysts surveyed by Zacks Investment Research was also for earnings of 72 cents per share. The 24 equity analysts who rate the stock have an average target price at $67.92, with individual targets ranging between $58 and $75.
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Morgan Stanley reiterated an Overweight rating. Adjusted earnings per share was $0.69, a decrease of 7% nominally or 4% in constant dollars over the prior year’s adjusted results. Robert W. Baird reiterated a “buy” rating on shares of Starbucks Corp.in a research report on Tuesday, April 19th.
For the full-year 2016, Starbucks continues to expect earnings of $1.88 to $1.89per share. Starbucks Corporation reported same store sales growth of 4% in what the firm refers as the “Americas”, while expectations where as high as 6% and last quarter’s number showed a robust 7% growth.
Chief Executive Howard Schultz called the US cafe results “an anomaly”, and said Starbucks was confident that it could again achieve quarterly same-restaurant sales growth of 5 percent or more. The heightened volatility saw the trading volume jump to 94,46,396 shares.
Thursday’s earnings report attributed the revenue growth being primarily driven by the opening of 1,876 net new stores over the past 12 months as well as by its 4% increase in global comparable store sales.
Shares of Starbucks Corporation (NASDAQ:SBUX) jumped 0.10% to reach at $57.60 during the course of session. 74 funds bought stakes while 485 increased positions. 2 analysts have suggested “Sell” for the company.
The Company did not include Visa Europe’s financial results from June 21, 2016 through June 30, 2016, nor the dilutive impact of the outstanding shares of series B and C convertible participating preferred stock in the calculation of basic or diluted earnings per share as the effects were immaterial.
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Sales at established cafes in the US -dominated Americas region grew 4 percent, short of analysts’ call for a 6.1 percent gain, after rising 7 percent in the second quarter and 9 percent in the first quarter. Analyst recommendation for this stock stands at 3.20. SBUX stock lost -0.31% in total of its share price. The stock price is moving up from its 20 days moving average with 2.01% and isolated positively from 50 days moving average with 3.28%. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The disclosure for this sale can be found here. Starbucks Corporation (NASDAQ:SBUX) has a P/E ratio of 34.08. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
