Apple Stock Rating Reaffirmed by Zacks (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by Zacks in a report released on Wednesday, AnalystRatings.NET reports. They currently have a $534.00 price target on the stock. Zacks‘ price target suggests a potential upside of 4.92% from the stock’s previous close.
Apple (NASDAQ:AAPL) traded up 1.05% on Wednesday, hitting $514.112. The stock had a trading volume of 8,798,883 shares. Apple has a 52-week low of $385.10 and a 52-week high of $575.14. The stock has a 50-day moving average of $542.6 and a 200-day moving average of $510.5. The company has a market cap of $458.6 billion and a price-to-earnings ratio of 12.65.
Apple (NASDAQ:AAPL) last released its earnings data 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 last year, the company posted $13.81 earnings per share. Apple’s revenue was up 5.7% compared to the same quarter last year. 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. Stockholders 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 2.40%. The ex-dividend date of this dividend is Thursday, February 6th.
AAPL has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at BNP Paribas reiterated an “outperform” rating on shares of Apple in a research note to investors on Friday, January 31st. They now have a $650.00 price target on the stock. Finally, analysts at Hilliard Lyons downgraded shares of Apple to a “buy” rating in a research note to investors on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $598.26.
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.
To view Zacks’ full report, visit www.zacks.com
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