Starbucks Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Starbucks Corporation SBUX will release its third quarter financial results, after the closing bell on Tuesday, July 30.

Analysts expect the Seattle, Washington-based company to report quarterly earnings at 93 cents per share, down from $1 per share in the year-ago period. Starbucks expects to post revenue of $9.24 billion, according to data from Benzinga Pro.

According to a recent WSJ report, Elliott Investment Management has taken a significant stake in the coffee giant.

Starbucks shares gained 1.5% to close at $75.14 on Monday.

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.

• Citigroup analyst Jon Tower maintained a Neutral rating and cut the price target from $85 to $80 on July 22. This analyst has an accuracy rate of 71%.
• Deutsche Bank analyst Brian Mullan maintained a Hold rating and slashed the price target from $89 to $85 on July 16. This analyst has an accuracy rate of 75%.
• JP Morgan analyst John Ivankoe maintained an Overweight rating and cut the price target from $92 to $90 on July 10. This analyst has an accuracy rate of 72%.
• Piper Sandler analyst Brian Mullan maintained a Neutral rating and lowered the price target from $88 to $85 on May 6. This analyst has an accuracy rate of 75%.
• HSBC analyst Meredith Jensen maintained a Hold rating and cut the price target from $107 to $84 on May 3. This analyst has an accuracy rate of 71%.

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