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Starbucks’ Shares Rise on Earnings

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Nov. 20 2020, Updated 2:11 p.m. ET

Starbucks’ shares rise on earnings

Starbucks (SBUX) reported its earnings on April 23 after the market closed. Shares started trading at $48.55. The shares were up slightly from the previous day’s closing of $48.34. The day’s high and low were $49.70 and $48.28, respectively.

The share volume was ~15 million shares—compared to the 90-day average daily volume of ~8 million shares. Starbucks closed at $49.43, or 2.2% up, according to NASDAQ.

 

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Upgrades or downgrades

On April 24, 2015, RBC Capital maintained its “outperform” rating, but increased the price target from $50 to $55. On the same date, Jefferies also maintained its “buy” rating with a price target of $57 from the previous $54. As of April 24, 2015, 27 analysts had a “buy” rating on Starbucks. Seven analysts had a “hold” rating with a consensus target price of $54. The upgrades are positive for the company’s stocks, which are also held by the Consumer Discretionary Sector ETF (XLY).

XLY also holds 1% of Chipotle Mexican Grill (CMG), 4% of McDonald’s (MCD), and 0.3% of Darden Restaurants (DRI).

Forward estimates

Wall Street analysts’ consensus estimates for Starbucks in 3Q15 are as follows:

  • Adjusted EPS (earnings per share) is estimated to be $0.33.
  • Revenue is estimated at $4.5 billion.
  • Operating profits are estimated at $742 million—giving an operating margin of 16%.
  • Adjusted net income is estimated at $494 million.
  • Third quarter earnings are expected to be announced on July 27, 2015.

For more on the industry, please visit Market Realist’s Restaurants page

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