NEW YORK (TheStreet) -- Starbucks (SBUX) - Get Report stock was lower in mid-afternoon trading on Monday as Oppenheimer doesn't expect Thursday's fourth-quarter earnings to be a positive catalyst for shares.
The firm doesn't anticipate upside from same-store sales or per-share earnings for the fourth quarter, and notes that comparisons will toughen even more during the December quarter.
The midpoint of the beverage company's fiscal 2017 guidance might be below consensus, and traffic could be negative for the first time since 2009, Oppenheimer adds.
But the firm reiterated an "outperform" rating on the stock, noting that same-store sales should remain "well above" industry averages.
Analysts surveyed by FactSet expect the Seattle-based company to report adjusted earnings of 55 cents per share on $5.69 billion in revenue after Thursday's market close. For the year-ago period, Starbucks reported adjusted earnings of 43 cents per share on $4.91 billion in revenue.
(Starbucks is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a freetrial.)
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Starbucks' strengths such as its growth in earnings per share, increase in net income, revenue growth, notable return on equity and good cash flow from operations outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: SBUX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.