Starbucks Q3 2024 EPS Estimates Increased by Zacks Research Analysts
Zacks Research Analysts have raised their Q3 2024 EPS estimates for Starbucks Co., indicating a positive outlook for the popular coffee company. In addition to the increased Q3 estimate, analysts have provided earnings estimates for Starbucks in the following periods: Q4 2024 at $1.20 EPS, Q1 2025 at $1.06 EPS, Q2 2025 at $1.08 EPS, Q1 2026 at $1.20 EPS, and FY 2026 at $5.22 EPS.
The consensus estimate for Starbucks’ current full-year earnings is $4.07 per share, highlighting the company’s strong financial performance.
Various equity research analysts have given ratings to Starbucks, with eleven giving it a hold rating and nine issuing a buy rating. Other research firms have also weighed in on Starbucks, with changes in price targets indicating a mix of neutral to positive outlooks.
As a global coffee roaster, marketer, and retailer, Starbucks Corporation operates on a large scale. With a current market cap of $105.82 billion, the company boasts a PE ratio of 24.99 and a price-to-earnings-growth ratio of 1.47. Starbucks’ stock recently traded at $93.46, reaching a 1-year low of $89.21 and a 1-year high of $115.48.
The company’s most recent quarterly earnings report, announced on January 31st, showcased an EPS of $0.90, slightly lower than the consensus expectation of $0.92. Revenue for the quarter was reported as $9.43 billion.
Insider transactions have also occurred, with an insider selling 3,250 shares at an average price of $94.03. Following this transaction, the insider now directly owns 84,153 shares of the company’s stock. Hedge funds and other institutional investors have been actively engaging with Starbucks stock, with several entities either initiating or adjusting their holdings.
Starbucks’ business is divided into three segments: North America, International, and Channel Development. The company offers a wide range of coffee and tea beverages, as well as various food products, catering to a diverse customer base.
Analyst comment
This news is positive for Starbucks. The increased EPS estimates for Q3 2024 and the strong earnings estimates for future periods indicate a positive outlook for the company. The current consensus estimate for full-year earnings also highlights Starbucks’ strong financial performance. The ratings and price target changes from research firms indicate a mix of neutral to positive outlooks. With its large scale operations, strong market cap, and diverse product offerings, Starbucks is expected to continue performing well in the market.
