Apple Price Target Increased to $625.00 by Analysts at RBC Capital (AAPL)
Research analysts at RBC Capital raised their price objective on shares of Apple (NASDAQ:AAPL) from $590.00 to $625.00 in a report released on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 19.10% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole upgraded shares of Apple from an “outperform” rating to a “buy” rating in a research note on Thursday. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Apple in a research note on Thursday. They now have a $615.00 price target on the stock, up previously from $590.00. Finally, analysts at Cowen and Company raised their price target on shares of Apple from $590.00 to $630.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $604.37.
Shares of Apple (NASDAQ:AAPL) traded up 7.75% during mid-day trading on Thursday, hitting $565.438. 15,102,755 shares of the company’s stock traded hands. Apple has a 1-year low of $388.87 and a 1-year high of $575.14. The stock has a 50-day moving average of $530.9 and a 200-day moving average of $531.7. The company has a market cap of $504.4 billion and a P/E ratio of 13.04.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $10.13 by $1.49. The company had revenue of $45.65 billion for the quarter, compared to the consensus estimate of $43.55 billion. During the same quarter last year, the company posted $10.09 earnings per share. Apple’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Apple will post $42.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Monday, May 12th will be given a dividend of $3.29 per share. This represents a $13.16 dividend on an annualized basis and a yield of 2.51%.
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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