Apple Price Target Increased to $610.00 by Analysts at Canaccord Genuity (AAPL)
Canaccord Genuity upped their price target on shares of Apple (NASDAQ:AAPL) from $600.00 to $610.00 in a research note issued on Thursday, Stock Ratings News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target points to a potential upside of 7.44% from the stock’s previous close.
A number of other firms have also recently commented on AAPL. Analysts at Nomura raised their EPS on shares of Apple in a research note on Thursday. They now have a “neutral” rating and a $574.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Apple from $590.00 to $625.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Agricole upgraded shares of Apple from an “outperform” rating to a “buy” rating in a research note on Thursday. They now have a $695.00 price target on the stock, up previously from $610.00. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $614.26.
Apple (NASDAQ:AAPL) opened at 567.77 on Thursday. 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 was the target of unusually large options trading activity on Thursday. Investors acquired 433,270 call options on the stock. This represents an increase of approximately 308% compared to the typical 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 announced a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Monday, May 12th will be paid a dividend of $3.29 per share. This represents a $13.16 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, May 8th. This is an increase from Apple’s previous quarterly dividend of $3.05.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.