Starbucks (NASDAQ:SBUX – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.31 for the period, compared to the consensus earnings per share estimate of $3.54. The company issued revenue guidance of $36.20 billion, compared to the consensus revenue estimate of $36.48 billion. Starbucks also updated its Q4 guidance to $0.80 EPS.
Starbucks Trading Up 0.4 %
NASDAQ:SBUX traded up $0.37 during trading hours on Tuesday, reaching $96.82. 4,486,223 shares of the company were exchanged, compared to its average volume of 11,334,562. The stock’s 50-day moving average is $95.29 and its 200-day moving average is $84.73. The firm has a market cap of $109.67 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. As a group, research analysts anticipate that Starbucks will post 3.55 EPS for the current year.
Analyst Ratings Changes
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Insiders Place Their Bets
In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.
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.
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