Market Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks steps up UK corporation tax payments

[AFP] – Coffee shop chain Starbucks paid £8 million (11 million euros, $12 million) of corporation tax in 2014, it said Tuesday, a huge increase on previous years, after announcing a record profit in Britain. The amount is only slightly less than the £8.6 million in corporation tax Starbucks handed over to Britain’s tax authorities between its launching in 1998 and 2012, when it pledged to pay more amid controversy. Last year, Starbucks announced it was moving its European headquarters from the Netherlands to Britain. Read more on this. Starbucks Corporation (SBUX) , valued at $89.41B, opened at $60.55. Looking at today’s market, SBUX one day range is $60.07 to $60.66 with its 52-week range being $39.22 to $64.00. Starbucks (SBUX) shares are currently priced at 32.74x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 18.99x earnings multiple for the same period. And for passive income investors, the company pays shareholders $0.80 per share annually in dividends, yielding 1.34%. Consensus earnings for the current quarter by the 25 sell-side analysts covering the stock is an estimate of $0.45 per share, which 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 $68.09, which is 12.45% above where the stock opened this morning. See more in (NASDAQ:SBUX) Similar Articles: Market Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks to Present at Morgan Stanley Global Consumer and Retail Conference 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