Apple Rating Reiterated by Scotiabank (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “sector perform” rating restated by equities research analysts at Scotiabank in a research note issued to investors on Thursday, AnalystRatingsNetwork reports.
AAPL has been the subject of a number of other recent research reports. Analysts at Raymond James raised their price target on shares of Apple (NASDAQ:AAPL) from $600.00 to $675.00 in a research note to investors on Wednesday. They now have a “strong-buy” rating on the stock. Separately, analysts at Merrill Lynch downgraded shares of Apple (NASDAQ:AAPL) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at ISI Group reiterated a “strong-buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $600.00 price target on the stock.
Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, forty-one have given a buy rating and three have issued a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average price target of $554.07.
Shares of Apple (NASDAQ:AAPL) traded up 1.06% on Thursday, hitting $472.69. 14,421,750 shares of the company’s stock traded hands. Apple has a one year low of $385.10 and a one year high of $705.07. The stock’s 50-day moving average is $479.6 and its 200-day moving average is $444.1. The company has a market cap of $429.4 billion and a price-to-earnings ratio of 11.66. Apple also saw unusually large options trading activity on Monday. Stock investors purchased 163,410 call options on the stock. This represents an increase of approximately 345% compared to the typical daily volume of 36,746 call options.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 23rd. The company reported $7.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter last year, the company posted $9.32 earnings per share. Apple’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Apple will post $39.10 earnings per share for the current fiscal year.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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