FY2018 EPS Estimates for Apple Inc. (AAPL) Increased by Analyst
Apple Inc. (NASDAQ:AAPL) – Investment analysts at Credit Agricole SA increased their FY2018 earnings estimates for Apple in a report issued on Friday. Credit Agricole SA analyst A. Silver now expects that the firm will earn $10.27 per share for the year, up from their prior estimate of $9.94. Credit Agricole SA currently has a “Buy” rating and a $130.00 price target on the stock.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. The business earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a return on equity of 37.89% and a net margin of 21.70%. Apple’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share.
A number of other analysts have also recently weighed in on the stock. Piper Jaffray Cos. restated an “overweight” rating and issued a $151.00 price target on shares of Apple in a report on Saturday. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 target price on shares of Apple in a research note on Saturday. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a research note on Saturday. Morgan Stanley set a $124.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Friday. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $150.00 target price on shares of Apple in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $126.74.
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Shares of Apple (NASDAQ:AAPL) opened at 117.63 on Monday. The company has a 50-day moving average price of $111.56 and a 200-day moving average price of $103.65. The firm has a market capitalization of $633.84 billion, a P/E ratio of 13.72 and a beta of 1.22. Apple has a 12-month low of $89.47 and a 12-month high of $123.82.
In related news, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the completion of the sale, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AAPL. Zurich Insurance Group Ltd FI increased its stake in shares of Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock valued at $94,754,000 after buying an additional 11,582 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock worth $562,855,000 after buying an additional 1,521,440 shares in the last quarter. Roffman Miller Associates Inc. PA increased its stake in shares of Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock worth $13,380,000 after buying an additional 28,020 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock worth $1,379,333,000 after buying an additional 127,360 shares in the last quarter. Hedge funds and other institutional investors own 56.41% of the company’s stock.
Apple Inc (Apple) 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. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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