Zacks: Analysts Anticipate Apple Inc. (AAPL) to Post $1.58 Earnings Per Share
Wall Street analysts predict that Apple Inc. (NASDAQ:AAPL) will report $1.58 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Apple’s earnings, with estimates ranging from $1.50 to $1.68. Apple reported earnings per share of $1.42 in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The company is expected to report its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Apple will report full year earnings of $8.94 per share for the current fiscal year, with EPS estimates ranging from $8.64 to $9.33. For the next financial year, analysts anticipate that the firm will post earnings of $10.46 per share, with EPS estimates ranging from $9.49 to $12.05. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Apple.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%.
Several brokerages have recently commented on AAPL. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of Apple in a report on Tuesday, May 16th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $170.00 target price (up from $164.00) on shares of Apple in a report on Friday, May 12th. Needham & Company LLC reissued a “top pick” rating and issued a $150.00 target price on shares of Apple in a report on Tuesday, January 24th. Pacific Crest reissued an “overweight” rating and issued a $129.00 target price on shares of Apple in a report on Tuesday, January 31st. Finally, Argus reissued an “outperform” rating and issued a $160.00 target price on shares of Apple in a report on Monday, May 15th. Nine research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $156.58.
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In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total value of $1,855,321.23. Following the transaction, the insider now directly owns 23,998 shares in the company, valued at $3,726,169.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP D Bruce Sewell sold 67,500 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the completion of the transaction, the senior vice president now owns 141,325 shares in the company, valued at $21,023,507. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,186 shares of company stock worth $44,705,803. Corporate insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bailard Inc. boosted its stake in shares of Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock worth $20,519,000 after buying an additional 34,162 shares during the last quarter. Stanford Investment Group Inc. boosted its stake in shares of Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock worth $11,352,000 after buying an additional 20,176 shares during the last quarter. Fairview Capital Investment Management LLC boosted its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock worth $1,561,000 after buying an additional 350 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth approximately $5,625,709,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Apple during the fourth quarter worth approximately $7,910,000. Hedge funds and other institutional investors own 58.76% of the company’s stock.
Shares of Apple (NASDAQ:AAPL) traded down 0.44% during mid-day trading on Wednesday, hitting $153.13. The company had a trading volume of 5,922,387 shares. Apple has a 12-month low of $91.50 and a 12-month high of $156.65. The firm has a market cap of $798.40 billion, a PE ratio of 17.96 and a beta of 1.26. The firm’s 50 day moving average is $147.23 and its 200-day moving average is $130.41.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.64%. This is a boost from Apple’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, May 11th. Apple’s payout ratio is presently 27.31%.
Apple Company Profile
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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