BNP Paribas Reiterates “Outperform” Rating for Apple (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating restated by analysts at BNP Paribas in a research report issued to clients and investors on Friday, AnalystRatingsNetwork reports. They currently have a $650.00 price objective on the stock. BNP Paribas’ target price would suggest a potential upside of 29.84% from the stock’s previous close.
Shares of Apple (NASDAQ:AAPL) traded up 0.16% during mid-day trading on Friday, hitting $500.60. The stock had a trading volume of 16,619,492 shares. Apple has a 52-week low of $385.10 and a 52-week high of $575.14. The stock’s 50-day moving average is $546.5 and its 200-day moving average is $507.7. The company has a market cap of $446.8 billion and a P/E ratio of 12.42. Apple also saw unusually large options trading activity on Tuesday. Stock traders bought 274,777 put options on the stock. This is an increase of 115% compared to the average daily volume of 127,845 put options.
Apple (NASDAQ:AAPL) last released its earnings data on Monday, January 27th. The company reported $14.50 EPS for the quarter, beating the Thomson Reuters 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 $42.83 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 2.44%. The ex-dividend date of this dividend is Thursday, February 6th.
A number of other firms have also recently commented on AAPL. Analysts at Hilliard Lyons downgraded shares of Apple to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Nomura raised their price target on shares of Apple from $519.00 to $545.00 in a research note to investors on Tuesday. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Apple from $600.00 to $560.00 in a research note to investors on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and an average price target of $599.53.
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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