Solid News

Starbucks Corp. Market Update

8/23/2022 3:11 PM

The stocks of one of the world's largest coffee companies, Starbucks Corp., are trading in a corrective trend, being around the 85.00 mark.

The trading instrument continues moderate growth after the publication of a positive report for Q3. Thus, earnings per share amounted to 0.84 dollars, which exceeded the consensus estimate of 0.77 dollars. The company's revenue grew by more than 7.0%, amounting to 8.2B dollars, and global comparable sales – by 3.0%, due to an increase in the average check by 6.0%. Net revenue in North America increased by 13.0%, and comparable store sales in the region increased by 9.0%. Revenue in the international segment decreased by 6.0%, and international comparable sales fell by 18.0% largely due to coronavirus restrictions in China, which is the largest overseas market for Starbucks Corp.

As for dividends, the next payment is scheduled for August 26, when investors will receive 0.49 dollars per share, which corresponds to a yield of 2.27% per annum.   

The quotes of the asset continue to trade in a local corrective trend in an attempt to consolidate above the level of the basic 38.2% Fibonacci retracement.

Technical indicators hold the buy signal: the range of EMA fluctuations on the alligator indicator is directed towards growth, and on the AO oscillator, the histogram forms new descending bars, being in the buy zone.           

Support levels: 81.60, 76.16. | Resistance levels: 88.50, 94.00.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023