Jim Cramer Is Watching Starbucks Earnings on Thursday

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is keeping an eye on quarterly results from Starbucks (SBUX) released after the markets close on Thursday. Analysts expect the Seattle-based coffee giant to report fiscal first quarter earnings per share of $0.45 on sales of almost $5.4 billion. During the same quarter a year ago, the company posted earnings of $0.40 a share with revenue of $4.8 billion. The company is a holding of Cramer’s charitable trust, Action Alerts PLUS. ‘Here’s how I want you to approach Starbucks,’ Cramer said. ‘If you think about this on a one day basis or even a one month basis - if the stock goes to $53 or $54, you are going to say, I want to buy it lower. If it goes to $51 – I want to buy it lower. I think it’s going to be a good quarter, but [in this earnings quarter], nobody cares about the good.'