[Reuters] – GIG HARBOR, Wash., May 13 (Reuters) – Tedd Wetherbee spent months, and at least $30,000, setting up his marijuana shop in the Puget Sound hamlet of Gig Harbor, and planned a grand opening once his Washington state retail license was issued in July. As Washington state phases in a voter-sanctioned system to allow and regulate recreational pot, nearly 50 municipalities have enacted bans, moratoria and restrictive zoning ordinances, largely citing fears of a federal crackdown, their children getting high, and costly enforcement. Cries of frustration and lost investment dollars have reverberated across the state, with investors and pro-pot activists warning the bans will reduce tax revenues and delay the long-term goal of quashing the black market, a major selling point of ending prohibition. Liberal Seattle, the birthplace of grunge music and Starbucks coffee, is welcoming pot shops while the more conservative eastern agricultural hubs Yakima and Wenatchee pursued outright bans.
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Starbucks Corporation (SBUX), with a current value of $53.57B, opened at $71.10.
Looking at the stock, its one day range is $70.90 to $71.34 and has traded between $62.31 and $82.50 over the past year.
SBUX shares are currently priced at 26.65x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.82x earnings multiple for the same period.
And for passive income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 1.50%.
Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $0.66 per share, which would be $0.11 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.67, which would be a $0.41 better than last year.
The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.12 Billion. If reported, that would be a 10.16% increase over the year-ago quarter.
More recently, RBC Capital Mkts Initiated SBUX at Outperform (Nov 8, 2013). Previously, Pacific Crest Initiated SBUX at to Outperform.
The average price target for SBUX shares by the analysts covering the stock is $87.83, which is 23.53% above where the stock opened this morning.
Summary (NASDAQ:SBUX) : Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. Its stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single serve products, and juices and bottled water. The companys stores also provide fresh food offerings; ready-to-drink beverages; and various food products, including pastries, and breakfast sandwiches and lunch items, as well as beverage-making equipment and accessories. In addition, it licenses the rights to produce and distribute Starbucks branded products to The North American Coffee Partnership with the Pepsi-Cola Company, as well as licenses its trademarks through licensed stores, grocery, and national foodservice accounts. The company offers its products under the Starbucks, Teavana, Tazo, Seattles Best Coffee, Starbucks VIA, Starbucks Refreshers, Evolution Fresh, La Boulange, and Verismo brand names. As of September 29, 2013, it operated approximately 10,194 company-operated stores and approximately 9,573 licensed stores. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.
Tag Helper ~ Stock Code: SBUX | Common Company name: Starbucks | Full Company name: Starbucks Corporation (NASDAQ:SBUX) .