Starbucks Corporation (NASDAQ:SBUX), the world’s biggest coffee-shop chain, moved down to the record low level in over 3 years after estimating profit in the fourth-quarter failed to meet forecasts as consumers pull back.
Shares of the company plunged 12% to settle at $46.35 in New York on Thursday and prior fell almost $46.12 and marked the major intraday drop since November 2008. Shares of SBUX had climbed 14% current year through Thursday.
Starbucks CEO Howard Schultz is attempting to lure more customers fretting regarding the global economy by selling juice, energy drinks and better food alongside its traditional coffee.
The corporation cut its estimates for Q4 profits to almost 45 cents per share from a earlier forecasts for around 47 cents. Analysts on average forecasted 48 cents.
Its competitors include Dunkin Brands Group Inc (NASDAQ:DNKN) having profit margin of 9.68% with overall market cap of 3.71 billion and McDonald’s Corporation (NYSE:MCD) that possessed profit margin 20.26% with total market cap of 90.45 billion.
Other services stocks include US Airways Group, Inc. (NYSE:LCC) having profit margin 1.75%, SUPERVALU INC. (NYSE:SVU) with -3.02% profit margin, eBay Inc (NASDAQ:EBAY) having 28.66% profit margin, Best Buy Co., Inc. (NYSE:BBY) having profit margin of 0.65%, GNC Holdings Inc (NYSE:GNC) with 8.50% profit margin and J.C. Penney Company, Inc. (NYSE:JCP) with -2.30% profit margin.
Starbucks Corporation (NASDAQ:SBUX) dropped 10.73% or -$5.62 to trading at $46.79 following it hit intraday high level of $47.18. The total traded volume in the current trading session is 15.87 million shares as compared to average 6.64 million shares. Its fifty two week trading range is $33.72 – $62.00. The total market capitalization reached $35.48 billion.
The stock price was ahead its 52 week low price with 57.05% and it lagged behind -15.23% from its 52 week maximum mark. Stock price volatility for last month remained 2.26%. In its share capital, the company has 758.50 million outstanding shares out of which 737.87 million shares have been floated in the market. For now, stock ownership with company’s management remained 2.45%.
SBUX presented a negative weekly performance of -3.32% with respect to its rate of return and it remained -2.87% for the month. However, the performance for a quarter experienced a negative change of -13.35% and it surged 36.35% for a year and its year to date performance remained in green with 14.64%.
Current stock price is at flat taking into account of 20 days moving average and continued bearish run for 50 days moving average with -1.37%. Its earning per share for the past twelve months was $1.73. Company’s beta coefficient was at 1.21. Beta measures the amount of market risk associated with market trade.
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