Apple’s “Outperform” Rating Reaffirmed at Cowen and Company (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reiterated by investment analysts at Cowen and Company in a note issued to investors on Tuesday, American Banking News reports.
Apple (NASDAQ:AAPL) traded down 7.99% on Tuesday, hitting $506.50. 38,007,984 shares of the company’s stock traded hands. Apple has a 1-year low of $385.10 and a 1-year high of $575.14. The stock’s 50-day moving average is $552.1 and its 200-day moving average is $507.2. The company has a market cap of $455.7 billion and a P/E ratio of 13.85.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, January 27th. The company reported $14.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $14.05 by $0.45. The company had revenue of $57.59 billion for the quarter, compared to the consensus estimate of $57.46 billion. During the same quarter in the prior year, the company posted $13.81 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Apple will post $43.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of 3.05 per share. This represents a $12.20 dividend on an annualized basis and a yield of 2.41%.
A number of other analysts have also recently weighed in on AAPL. Analysts at Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a $560.00 price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Apple from $650.00 to $625.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Apple from $585.00 to $560.00 in a research note to investors on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $600.60.
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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