Stephens Initiates Coverage on Starbucks (SBUX)
SBUX has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Starbucks in a research note to investors on Monday, April 30th. They now have a $60.00 price target on the stock. Separately, analysts at Citigroup (NYSE: C) raised their price target on shares of Starbucks from $57.00 to $66.00 in a research note to investors on Sunday, April 29th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG (NYSE: UBS) cut their EPS estimates on shares of Starbucks in a research note on Friday. They now have a “buy” rating and a $61.00 price target on the stock.
Shares of Starbucks traded up 1.82% during mid-day trading on Tuesday, hitting $54.34. Starbucks has a 52 week low of $33.72 and a 52 week high of $62.00. The company has a market cap of $41.217 billion and a P/E ratio of 30.85.
Starbucks last announced its earnings results on Thursday, April 26th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.01. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts predict that Starbucks will post $0.49 earnings per share next quarter.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of specialty coffee in the world, operating in more than 50 countries.