Starbucks (NASDAQ:SBUX) Updates Q4 2024 Earnings Guidance

Starbucks (NASDAQ:SBUX) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.800-0.800 for the period, compared to the consensus earnings per share estimate of 1.030. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $9.4 billion. Starbucks also updated its FY 2024 guidance to 3.310-3.310 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $0.18 during trading on Thursday, reaching $97.83. The company had a trading volume of 4,642,664 shares, compared to its average volume of 11,349,207. The firm has a market capitalization of $110.86 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The stock’s fifty day moving average price is $95.38 and its 200 day moving average price is $84.89. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, equities analysts anticipate that Starbucks will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 63.87%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

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.