Stock Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks expects China to surpass US

[AAP] – Starbucks expects China to eventually overtake the US as the coffee chain’s largest market. The Seattle company said it is on track to open 500 stores in China this year. It expects to have a total of 3,400 stores in China by 2019. Read more on this. Starbucks Corporation (SBUX) , with a current value of $88.29B, started the session at $58.51. Today, shares have traded between $58.18 and $59.53 per share with the price of the stock fluctuating between $39.50 to $64.00 over the last 52 weeks. Priced at 29.96x this year’s forecasted earnings, SBUX shares are relatively expensive compared to the industry’s 16.02x forward p/e ratio. The company pays shareholders $0.80 per share annually in dividends, yielding 1.41%. According to a consensus of 25 analysts, the earnings estimate of $0.45 per share would be $0.05 better than the year-ago quarter and a $0.02 sequential decrease. Investors should also note that the full-year EPS estimate of $1.89 is a $0.31 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.39 Billion. If reported, that would be a 12.29% increase over the year-ago quarter. More recently, Guggenheim Initiated SBUX at Buy (Apr 16, 2015). Previously, Standpoint Research Initiated SBUX at to Strong Sell. The average price target for SBUX shares is $68.26, which is 16.66% above where the stock opened this morning. See more in (NASDAQ:SBUX) Similar Articles: Market Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks steps up UK corporation tax payments Market Update: Starbucks Corporation (NASDAQ:SBUX) – Square IPO Looks a Lot Better Without Starbucks Partnership Company Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks Enters its 15th Market in Latin America with New Flagship Store in Panama