$8.20 EPS Expected for Alphabet Inc. (GOOGL) This Quarter
Wall Street analysts expect Alphabet Inc. (NASDAQ:GOOGL) to announce earnings per share (EPS) of $8.20 for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Alphabet’s earnings, with the lowest EPS estimate coming in at $7.91 and the highest estimate coming in at $8.69. Alphabet posted earnings of $7.00 per share during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The firm is expected to report its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Alphabet will report full year earnings of $34.37 per share for the current fiscal year, with EPS estimates ranging from $32.75 to $35.91. For the next fiscal year, analysts expect that the business will report earnings of $40.90 per share, with EPS estimates ranging from $37.50 to $45.86. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Alphabet.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping analysts’ consensus estimates of $7.24 by $0.49. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The firm had revenue of $20.12 billion for the quarter, compared to the consensus estimate of $19.65 billion. During the same quarter in the prior year, the business earned $7.50 earnings per share.
A number of brokerages have recently issued reports on GOOGL. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and upped their target price for the company from $967.93 to $1,000.00 in a research note on Thursday. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price objective on the stock in a research note on Monday, June 5th. Instinet reiterated a “buy” rating on shares of Alphabet in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,011.53.
A number of hedge funds have recently bought and sold shares of the company. First Interstate Bank raised its stake in Alphabet by 133.1% in the fourth quarter. First Interstate Bank now owns 4,820 shares of the information services provider’s stock valued at $3,820,000 after buying an additional 2,752 shares in the last quarter. Busey Trust CO raised its stake in Alphabet by 3.1% in the fourth quarter. Busey Trust CO now owns 1,867 shares of the information services provider’s stock valued at $1,480,000 after buying an additional 56 shares in the last quarter. Benson Investment Management Company Inc. bought a new stake in Alphabet during the fourth quarter valued at about $226,000. First Command Bank bought a new stake in Alphabet during the fourth quarter valued at about $123,000. Finally, Mission Wealth Management LLC raised its stake in Alphabet by 0.3% in the fourth quarter. Mission Wealth Management LLC now owns 1,307 shares of the information services provider’s stock valued at $1,036,000 after buying an additional 4 shares in the last quarter. Institutional investors own 34.72% of the company’s stock.
Alphabet (NASDAQ GOOGL) traded up 2.05% during trading on Monday, reaching $978.25. The company had a trading volume of 435,127 shares. Alphabet has a 1-year low of $672.66 and a 1-year high of $1,008.61. The stock has a market capitalization of $676.70 billion, a price-to-earnings ratio of 33.06 and a beta of 0.96. The firm has a 50-day moving average of $967.45 and a 200-day moving average of $868.27.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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