Starbucks Likely To Report Higher Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Starbucks Corporation SBUX is expected to release financial results for its fourth quarter, before the opening bell on Nov. 2, 2023.

Analysts expect the company to post quarterly earnings at 92 cents per share, up from year-ago earnings of 81 cents per share. The company’s revenue might come in at $8.76 billion, compared to $8.41 billion in the year-ago period.

Starbucks’s Board of Directors recently approved a 7.5% increase in the company's quarterly cash dividend from $0.53 to $0.57 per share, raising the company's annual dividend rate to $2.28 per share.

Starbucks shares fell 1% to close at $91.35 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Deutsche Bank analyst Brian Mullan initiated coverage on the stock with a Buy rating and a price target of $118 on Oct. 19, 2023. This analyst has an accuracy rate of 82%.
• UBS analyst Dennis Geiger maintained a Neutral rating and cut the price target from $110 to $100 on Oct. 12, 2023. This analyst has an accuracy rate of 71%.
• Citigroup analyst Jon Tower maintained a Neutral rating and cut the price target from $104 to $100 on Oct. 5, 2023. This analyst has an accuracy rate of 71%.
• Wedbush analyst Nick Setyan maintained a Neutral rating and slashed the price target from $112 to $105 on Aug. 2, 2023. This analyst has an accuracy rate of 79%.
• Wells Fargo analyst Zachary Fadem maintained an Overweight rating and cut the price target from $125 to $120 on July 19, 2023. This analyst has an accuracy rate of 83%.

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