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

Starbucks Corporation SBUX will release earnings results for its fourth quarter, after the closing bell on Wednesday, Oct. 30.

Analysts expect the Seattle, Washington-based bank to report quarterly earnings at $1.03 per share, down from $1.06 per share in the year-ago period. Starbucks projects to report revenue of $9.37 billion for the recent quarter, compared to $9.37 billion a year earlier, according to data from Benzinga Pro.

Starbucks recently reported preliminary financial results for the fourth quarter showing that it expects consolidated net revenues to decline 3% and global comparable sales to fall 7%. Starbucks also said it anticipates earnings of 80 cents per share, down 25% year-over-year.

Starbucks shares fell 0.6% to close at $97.39 on Tuesday.

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.

• Stifel analyst Chris O'Cull maintained a Buy rating and cut the price target from $110 to $105 on Oct. 23. This analyst has an accuracy rate of 78%.
• UBS analyst Dennis Geiger maintained a Neutral rating and boosted the price target from $85 to $95 on Oct. 23. This analyst has an accuracy rate of 70%.
• Citigroup analyst Jon Tower maintained a Neutral rating and cut the price target from $99 to $96 on Oct. 23. This analyst has an accuracy rate of 75%.
• TD Cowen analyst Andrew Charles reiterated a Buy rating with a price target of $110 on Oct. 23. This analyst has an accuracy rate of 72%.
• BTIG analyst Peter Saleh maintained a Buy rating and raised the price target from $100 to $115 on Oct. 17. This analyst has an accuracy rate of 72%.

Considering buying SBUX stock? Here’s what analysts think:

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