Starbucks Corp. Stock Is Down 9% After Earnings: Here's the Big Reason Why
At 1:05 p.m. EDT on Friday, shares of coffee giant Starbucks Corp. (NASDAQ: SBUX) were down 9.4%, following the release of the company's fiscal third-quarter earnings after the close Thursday. Including that drop, Starbucks investors have seen its share price fall 16% since it hit its all-time high in June.
Starbucks' results for the quarter that ended July 2 came in a bit mixed, at least relative to analysts' expectations. While earnings -- adjusted to account for one-time charges related to shuttering the Teavana retail stores and foreign-currency impacts -- of $0.55 per share were in line with most projections, the company's 8% revenue growth to $5.7 billion was slightly below expectations.
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Source: Fool.com
Starbucks Corp. Stock
€68.20
0.980%
With 23 Buy predictions and not a single Sell prediction Starbucks Corp. is an absolute favorite of our community.
With a target price of 98 € there is a positive potential of 43.7% for Starbucks Corp. compared to the current price of 68.2 €.
