- Dan R. Krauss/Getty Images
- Starbucks will report fourth quarter earnings after the bell on Thursday. Wall Street is expecting the Seattle-based coffee chain to post earnings of $0.55 per share on revenue of $5.81 billion, according to Bloomberg data. Wall Street is also expecting adjusted net income of $795.52 million.
Ahead of the earnings announcement, Wall Street’s outlook for the company is mostly optimistic. 26 of the 34 analysts surveyed by Bloomberg rate Starbucks’ stock as “buy,” while eight give it a “hold” recommendation.
The away-from-home coffee market continues to grow at roughly 5% every year, estimates from Bernstein show, with Starbucks barely outpacing that growth. Still, away-from-home coffee makes up just 30% of all coffee consumption, according to data from the National Coffee Association, so there’s more room for the segment to grow.
Wall Street will also be watching Starbucks’ digital rewards program, which has showed slower growth in recent quarters.
Shares of Starbucks are down 0.38% so far this year.
- Markets Insider