Starbucks Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Starbucks Corporation (NASDAQ:SBUX) is expected to report lower Q3 earnings, with analysts forecasting earnings of 93 cents per share, down from $1 per share last year. Revenue is projected at $9.24 billion. Several analysts have revised their price targets downward, maintaining neutral or hold ratings. Elliott Investment Management has taken a significant stake in the company.
July 30, 2024 | 2:13 pm
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Starbucks is expected to report lower Q3 earnings, with analysts forecasting 93 cents per share, down from $1 per share last year. Revenue is projected at $9.24 billion. Several analysts have revised their price targets downward, maintaining neutral or hold ratings. Elliott Investment Management has taken a significant stake in the company.
The expectation of lower earnings and downward revisions of price targets by multiple analysts suggest a negative short-term impact on Starbucks' stock price. However, the significant stake taken by Elliott Investment Management could provide some support.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100