Is Starbucks Corporation a Buy?
If you've been waiting for a better price before buying Starbucks (NASDAQ: SBUX) stock, your patience has been rewarded. The coffee giant's shares have lost ground in 2017 even as the broader market soared. As a result, investors can purchase Starbucks for about 28 times last year's earnings, compared to a P/E ratio of over 35 in early 2016.
A lot has happened in the past 18 months to lower Wall Street's expectations for this business, though. Below, we'll look at why that pessimism could represent a buying opportunity for long-term investors.
Image source: Starbucks.
Source: Fool.com