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Starbucks (SBUX) - Get Free Report is expected to report higher first-quarter earnings and revenue year-over-year after Thursday's closing bell.

Analysts surveyed by FactSet are projecting adjusted earnings of 52 cents per share on revenue of $5.85 billion. During the same quarter last year, the coffee giant earned an adjusted 46 cents per share on revenue of $5.37 billion.

Global comparable-store sales are forecast to rise 3.8% during the most recent period vs. an 8% jump a year ago.

Recent checks by Wedbush analysts imply U.S. comparable-store sales growth of 4%. Mobile order and pay, remodeling, drive-thru additions, beverage innovation, seasonal limited-time offers and food continue to be cited as drivers, the analysts added.

Competition remains the primary reason for a decline in sales, Wedbush noted. Starbucks is up against McDonald's (MCD) - Get Free Report  who is revamping its $4 billion McCafe brand this year and offering several limited time deals. By overhauling the brand, McDonald's is looking to take on Starbucks and Dunkin' Donuts (DNKN) - Get Free Report

Meanwhile, Oppenheimer reiterated an "outperform" rating on Starbucks stock today and said comparable-store sales are positioned to re-accelerate this year. "We are buyers and believe SBUX will become loved again in large-cap consumer discretionary," the firm added.

William Blair analysts expect Starbucks' full-year guidance to be reiterated, which calls for mid-single-digit comparable-store sales growth. The second half of the year will be higher due to easier comparisons and the rollout of new initiatives and menu innovation. Revenue is expected to increase 10% on a 52-week basis, yielding fiscal 2017 earnings per share between $2.12 and $2.14, the firm added.

"We expect another solid quarter out of Starbucks when compared with the majority of the retail and restaurant landscape (which has continued to face traffic challenges related to the growth of on-line holiday selling season sales)," Deutsche Bank analyst Brett Levy wrote in a recent note.

But due to near-term challenges across the landscape and Starbucks' recent sales slowdown, the firm remains cautious about the stock and maintains a "hold" rating. 

Shares of Starbucks edged up 0.19% to $58.55 in pre-market trading on Wednesday.

Starbucks is a holding in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX?Learn more now.