Apple Receives Neutral Rating from Zacks (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating restated by Zacks in a report released on Thursday, ARN reports. They currently have a $551.00 price target on the stock. Zacks‘s price objective would indicate a potential downside of 2.95% from the company’s current price.
Apple (NASDAQ:AAPL) traded up 8.20% on Thursday, hitting $567.77. The stock had a trading volume of 27,139,726 shares. Apple has a 52 week low of $388.87 and a 52 week high of $575.14. The stock’s 50-day moving average is $532.0 and its 200-day moving average is $531.. The company has a market cap of $506.4 billion and a price-to-earnings ratio of 13.04. Apple also saw unusually large options trading activity on Thursday. Stock traders acquired 433,270 call options on the company. This is an increase of approximately 308% compared to the typical daily volume of 106,240 call options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $11.62 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $10.09 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Apple will post $42.59 earnings per share 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 2.32%. The ex-dividend date of this dividend is Thursday, May 8th. This is a positive change from Apple’s previous quarterly dividend of $3.05.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets raised their price target on shares of Apple from $565.00 to $610.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Macquarie raised their price target on shares of Apple from $630.00 to $665.00 in a research note on Thursday. Finally, analysts at Canaccord Genuity raised their price target on shares of Apple from $600.00 to $695.00 in a research note on Thursday. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $612.65.
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 Zacks’ official website.
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