Stock Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks Prices $500 Million of Senior Notes

[Business Wire] – Starbucks Corporation today announced that it has priced an underwritten public offering of senior notes. The company plans to use the net proceeds from the offering of $500 million of 2.100% Senior Notes due 2021 for general corporate purposes, which may include repurchases of Starbucks common stock under the company’s ongoing share repurchase program, business expansion, payment of cash dividends … Read more on this. Starbucks Corporation (SBUX) , with a current market cap of $90.76B, started the session at $60.58. Looking at the equity, the company’s one day range is $60.27 to $61.79 and has traded between $42.05 and $64.00 over the past year. Starbucks (SBUX) shares are currently priced at 32.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 14.02x earnings multiple for the same period. And for passive income investors, the company pays shareholders $0.80 per share annually in dividends, yielding 1.32%. According to a consensus of 24 analysts, the earnings estimate of $0.39 per share would be $0.06 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $1.89, which would be a $0.31 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.02 Billion. If realized, that would be a 10.09% 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 $68.23, which is 12.63% above where the stock opened this morning. See more in (NASDAQ:SBUX) Similar Articles: Market Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks Statement on Attacks in Jakarta, Indonesia Stock Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks expects China to surpass US Market Update: Starbucks Corporation (NASDAQ:SBUX) – Starbucks steps up UK corporation tax payments